Bitcoin Detractor Peter Schiff Says It’s Time To Sell BTC, Here’s Why

Economist Peter Schiff has been actively against bitcoin for years now and has been warning investors to stay away from the digital asset. Time and time again, the economist has warned that the price of bitcoin was going to zero, and even after being wrong on multiple occasions, Schiff has not changed his stance on the digital asset. True to form, he has taken to Twitter to warn investors to stay away from the cryptocurrency. Peter Schiff Says Sell Bitcoin On Tuesday, chief economist and global strategist Peter Schiff took to Twitter to warn investors once more about the ‘dangers’ of investing in bitcoin. He pointed towards the recent trend of bitcoin at $20,000, referring to this as a false bottom. He further goes on to say that this is not the time to be buying, given that it is likely that the price of the digital asset would likely continue to plunge. His advice during this time was for investors to sell their bitcoin. Related Reading: Public Bitcoin Mining Firms Are Nearly Out Of Coins To Sell “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.” In a follow-up tweet, Schiff points toward the declining dominance of bitcoin as a reason why it is not a good option to invest in. According to the eco...