Peter Schiff: "Bitcoin investors won't be able to buy the dip due to lack of cash... possibility of sharp decline due to ETF-driven selling pressure"
Minseung Kang
Summary
- CEO Peter Schiff stated that Bitcoin investors will not be able to make additional purchases due to lack of cash.
- He indicated that contrary to expectations of Bitcoin rising, it may decline due to ETF selling pressure.
- He pointed out that most investors have already invested at over $100,000.
Peter Schiff, CEO of Euro Pacific Capital, a prominent cryptocurrency skeptic and gold bull, has forecasted the possibility of further decline in Bitcoin (BTC).
On the 28th, CEO Schiff pointed out through his X (formerly Twitter) that "Bitcoin investors are accustomed to 'buying the dip,' but most investors who went all-in at over $100,000 lack the cash to make additional purchases during corrections."
He predicted, "They entered expecting Bitcoin to rise explosively and 'go to the moon,' but reality is unfolding differently," adding, "If ETF investors continue to sell, Bitcoin is highly likely to crash back to Earth."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
