Peter Schiff Warns Bitcoin Owners 'Waiting To Sell' — Says, Speculators 'Over-Estimated' Spot ETF Demand
Portfolio Pulse from Benzinga Neuro
Influential investor Peter Schiff has expressed skepticism about the anticipated demand for a new Bitcoin ETF, suggesting that the number of Bitcoin speculators ready to sell far outpaces the would-be buyers waiting for the ETF. This comes amidst high speculation around a possible Bitcoin ETF approval by the SEC, which has led to Bitcoin's price increasing by 19.9% over the week.
October 25, 2023 | 12:55 am
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Peter Schiff's skepticism about the demand for a new Bitcoin ETF could potentially impact the price of Bitcoin. He suggests that the number of Bitcoin owners ready to sell may lead to a sell-off.
Peter Schiff's comments suggest that the demand for a new Bitcoin ETF may be overestimated, which could lead to a sell-off as existing Bitcoin owners are waiting to sell. This could potentially impact the price of Bitcoin in the short term.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100