Peter Schiff, American stockbroker and financial commentator, shared his views on where Bitcoin is headed in a recent tweet on X.
Peter Schiff predicted that 100% of Bitcoin ETF buyers will lose money when BTC trades below $38,000. Schiff expects the sell-off to intensify once Bitcoin ETF buyers are underwater on their investment. Bitcoin swept a low of $53,485 early on Friday. As Bitcoin slips under key support at $54,000 early on Friday, Schiff predicts an intense sell-off once the asset drops below $38,000.
Schiff expects the Bitcoin sell-off to intensify as most crypto ETF speculators shed their holdings and realize losses. Schiff says under $38,000, he expects “the real selling to start, as most crypto ETF speculators will throw in the towel for good.” At $54K my guess is that over 70% of those who bought #BitcoinETFs are losing money. When #Bitcoin trades below $38K, 100% of Bitcoin ETF buyers will be losing money.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin (BTC) Will Crash When Saylor Stops Buying, Peter Schiff PredictsPeter Schiff has slammed Michael Saylor over his aggressive leveraged Bitcoin buying
Read more »
Schiff: Bitcoin (BTC) Price Poised to Break DownNaysayer Peter Schiff has issued major Bitcoin warning after price of leading cryptocurrency dipped back below $60,000 level
Read more »
Bitcoin miner sell pressure 'weakening' as BTC withdrawals drop 85%Bitcoin miners cool BTC withdrawals in June in what analysis says is 'weakening' Bitcoin sell pressure.
Read more »
Michael Saylor and Bitcoin Grilled by Peter SchiffPeter Schiff grills Michael Saylor and Bitcoin amid epic market drop
Read more »
Peter Schiff Has Some Bad News for Bitcoin ETF InvestorsPeter Schiff shares another warning on Bitcoin's future
Read more »
Peter Thiel: Most of Bitcoin (BTC) Value Has Been ExtractedEx-Paypal executive provides us with gloomy outlook for Bitcoin
Read more »