Peter Schiff: Bitcoin Will Crash After Interest in ETFs Decreases
In December, financial expert Peter Schiff expressed his belief that as interest in Bitcoin ETFs declines, the cryptocurrency market will return to a bearish trend.
According to him, the recent growth in the market was driven by high institutional investor activity, as they were searching for a way to invest in Bitcoin.
This week, Schiff reiterated his prediction of a BTC crash as trader interest in the spot ETF market diminishes.
He pointed out that this speculative pattern of inflating and then dumping an asset is common, and the sales will likely begin soon.
However, some subscribers reminded him of his previous advice not to buy Bitcoin at $3,800 in 2018, predicting an 80% drop in value. In the end, those who entered at higher prices would suffer losses.
