Amid Bitcoin Crash, Peter Schiff Forecasts Prolonged Bear Market: 'Don't Say I Didn't Warn You HODLers'
Portfolio Pulse from Aniket Verma
Renowned economist Peter Schiff has forecasted a prolonged bear market for Bitcoin, predicting further declines. Schiff's comments come amid a significant drop in Bitcoin's price, influenced by fears of coin sales by Mt.Gox and government actions. He also warned that over 70% of Bitcoin ETF buyers would incur losses at current price levels.
July 05, 2024 | 3:01 pm
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Peter Schiff has forecasted a prolonged bear market for Bitcoin, predicting further declines. He warned that over 70% of Bitcoin ETF buyers would incur losses at current price levels.
Schiff's bearish outlook and the recent significant drop in Bitcoin's price due to fears of coin sales by Mt.Gox and government actions are likely to negatively impact Bitcoin's short-term price.
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