Peter Schiff Softens His Stance on the Possibility of Bitcoin Hitting $100,000

Peter Schiff's Comments Refer to His Previous "Incorrect" Suggestions
Peter Schiff: A Long-Time Bitcoin Critic

Renowned economist and equally well-known cryptocurrency critic Peter Schiff seems to have softened his stance on the possibility of Bitcoin reaching the $100,000 mark. In response to a tweet on his poor predictions for Bitcoin, Schiff said that it was "unlikely" that Bitcoin would ever go past the $ 100,000 mark. It is worth noting that prior to this, Schiff has always that it was impossible for Bitcoin to ever attain that position.

Peter Schiff's Comments Refer to His Previous "Incorrect" Suggestions

Schiff's comment refers to the events of recent weeks when after his extremely bearish forecasts and calls to sell Bitcoin, it rose 37.2% in value. However, readers reminded the economist that he said the same thing in late 2018 when BTC was trading at less than $4,000 per coin.

He stated that what could be worse than giving the advice to sell BTC ahead of its 30% rally would only be to participate in that very rally and then crash to levels even lower.

Peter Schiff: A Long-Time Bitcoin Critic

Schiff's critical views on Bitcoin have been known to everyone for a long time. Previously he has compared Bitcoin to a pyramid scheme and has called it "irrelevant".

It is likely that Schiff has not fundamentally changed his position, but his view of the strength of the market and its participants has certainly wavered. However while Schiff remains a Bitcoin critic, it in turn continues to test the resistance at the $23,100 level. Crypto enthusiasts are watching the price action in the area closely, divided into two camps, with some expecting a correction and others a breakout and entry into a new price range.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Bitcoin Price Prediction Peter Schiff Bitcoin

Peter Schiff Softens His Stance on the Possibility of Bitcoin Hitting $100,000

Sandeep Kumar Mishra

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