“I Predicted Bitcoin Crash” – Crypto Critic, Peter Schiff

Anti-cryptocurrency/BTC figure, Peter Schiff, has taken another swipe to throw a jab at Bitcoin holders and investors. The Euro Pacific and Schiffgold C.E.O alleged that the crash in the BTC market price was predicted by him a few days back. He alleged that holders were adamant about his forecast and predictions. 

“They Failed To Heed My Predictions To Sell – Peter Schiff”

Peter Schiff took a swipe at BTC users, holders, and investors, revealing he had predicted the crash. The metal and Gold mogul stated that his predictions about the world’s largest cryptocurrency, BTC, came to pass sooner than expected.

Peter Shiff tweeted a few days ago that BTC might bear down to $10,000 soon. He convinced holders and investors to sell out their Bitcoin and Ethereum holding and portfolios before more losses set in the market. 

Excerpt from the tweet “There is time to sell, better late than never” – Peter Schiff.

Earlier, Peter took to his verified Twitter handle to boast that the tweet he made a few days ago about the BTC crash came to reality. The tweet was met with criticism and backlash from the crypto communities. The BTC critic stated that the market charts indicate a rising wedge, in which the support level may be located around the $10K price zone.

Unfortunately, five days after Peter made his bearish prediction, BTC fell below the $22,000 price zone, a 14% decline in under 24 hours. He alleged that his prediction came to pass sooner and, in another dimension, least expected by users. 

Bitcoin Hits Below $21,000 Zone, Possible Rebound

Giant cryptocurrencies, Bitcoin and Ethereum, experienced a steep decline on Friday, 19th of August, as both markets’ prices fell. Bitcoin fell below the $21,000 support level and traded below the $21,000 price zone, a 12% drop in price. Ethereum also declined and traded around the $1,600 price zone. 

However, 24 hours after the market decline and retracement, BTC and ETH set out to rebound again. According to Coinbase, BTC has garnered momentum by trading above the $21,200 zone, while ETH trades above the $1,620 zone.

Following Peter Schiff’s bear predictions, the markets seem to be plagued with fear, uncertainty, and doubt, as the crash may have just begun. If FUD increases in the markets, selling pressures will soar as the holder will want to reduce loss.

After Peter’s tweet on Sunday, the crypto communities accused the economist of creating fear, uncertainty, and doubts in the cryptocurrency markets. His tweet predicted that the bears in the markets would be long-term, advising holders to sell their BTC holdings. 

There are predictions that the FUD in the markets may be caused by Peter Schiff’s tweet regarding the BTC fall. This call-out is not the first made by Peter; he has, on several occasions, shown his Anti-Bitcoin stance and cryptocurrency.