As the cryptocurrency sector starts another day with the majority of its assets in the red, American economist and gold bug Peter Schiff has taken it as a sign that Bitcoin (BTC) is going down the drain, voicing a particularly dire warning for owners of spot BTC exchange-traded funds (ETFs).
Specifically, Schiff has observed the current price action of the flagship decentralized finance (DeFi) asset, asserting “it’s not looking good” and telling ‘HODLers’ to better hope that Bitcoin can hold $60,000 or “it’s a long way down,” according to his X post on April 25.
Bitcoin price action analysis. Source: Peter Schiff
At the same time, he argued that the drop might not be a major shock for investors who have been in the field for a long time, but that spot Bitcoin ETF owners or “newbies,” as he called them, would face an unpleasant surprise. As he pointed out:
“All the hard-core Bitcoiners are used to big drops. But the newbies who own the ETFs are in for
We współpracy z: https://finbold.com/us-economist-warns-bitcoin-etf-newbies-about-a-rude-awakening/
