Peter Schiff grills Michael Saylor and Bitcoin amid epic market drop
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However, Peter Schiff, a well-known financial expert and outspoken critic of Bitcoin, responded with characteristic sarcasm, suggesting that Bitcoin would indeed make investors independent of their money. But there's a catch., an enormous drop from its record high of $74,000. He pointed out that this represents a 27.5% decline in U.S. dollar terms and a 38.5% decline against gold.is far from over and reiterated his skepticism.
Furthermore, Schiff predicted that if Bitcoin's value falls below $38,000, all ETF buyers will experience losses, which could trigger widespread selling as investors decide to cut their losses.As Bitcoin navigates its current bearish phase, the question is whether it can recover from this downturn and reach new heights, or whether the predictions of critics like Schiff will come true and lead to further declines.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.HashKey Global Ranks Top 10 Globally and Achieves Profitability Within 2 Months of LaunchFormer Mt. Gox CEO Breaks Silence on 141,686 Bitcoin Payback
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