Economist Peter Schiff compared Bitcoin with a ship tolerant – Bits Media

One of the most avid critics of Bitcoin, calls investors to refuse investment in BTC. In his opinion, Bitcoin is getting more worse with other cryptocurrencies and NFT.

On Tuesday, 7 september, Bitcoin's course fell to $ 18 508. Economist Peter Schiff (Peter Schiff) used the fall and bear mood in the market, To criticize the flagship cryptocurrency again. Shiff wrote on Twitter, that markets rarely give investors enough time, to "buy an asset at the bottom". Bitcoin cost, which is the last 12 days are traded at $ 20,000, Schiff called the "false bottom". It can lure investors in a trap and can fall much lower.

“The suckers will have enough time, to climb aboard a drowning ship. It is better to leave this ship before, How he will fall apart ", - ironizes Shiff.

Markets rarely give investors much time to buy the bottom. #Bitcoin has been trading near $20K for the past 12 days. More likely $20k will prove to be a false bottom, giving suckers plenty of time to climb aboard a sinking ship. Better to abandon ship before the bottom drops out.

— Peter Schiff (@PeterSchiff) September 6, 2022

The cryptoquiptic claims, that the limited supply of bitcoin now does not matter. BTC dominance index fell to 38.1%, which has become a minimum indicator since June 2018 of the year. Bitcoin has to compete with almost 21 000 other cryptocurrencies, Including with incorrect tokens (NFT), The economist explained.

Being a supporter of gold, Chiff always recommends cryptocurrency investors to sell digital assets and buy precious metals, For which he received the nickname "Golden Beetle". Ironically, the son of Peter Schiff, Spenser Shiff (Spencer Schiff), calls himself a maximalist bitcoin, Therefore, they often disagree on investment issues.

In July it became known, that the shiff is ready to sell his problem bank Euro Pacific for bitcoins, whose activities are suspended due to inconsistency with minimal capital requirements.