Peter Schiff Says 'Smart Money Is Selling' And Dumb Money Is Buying It Through ETFs: 'They Set Up Bitcoin ETF Investors To Be The Bag Holders'
Portfolio Pulse from Aniket Verma
Economist Peter Schiff criticizes Bitcoin ETFs, suggesting that 'smart money' is selling Bitcoin while 'dumb money' is buying through ETFs. He warns that Bitcoin ETF investors may face significant losses, especially if Bitcoin's price drops below $38,000. Schiff's comments come amid Bitcoin's recent price decline and net outflows from U.S.-listed Bitcoin ETFs.
July 08, 2024 | 2:17 am
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Peter Schiff suggests that 'smart money' is selling Bitcoin while 'dumb money' buys through ETFs, predicting significant losses for Bitcoin ETF investors if prices drop below $38,000.
Schiff's comments highlight a potential bearish trend for Bitcoin, especially if the price drops below $38,000, which could lead to significant losses for Bitcoin ETF investors.
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