Peter Schiff says it is bad watching Bitcoin rally but not selling

Peter Schiff once again suggested people sell Bitcoin, instead to watch the rally of Bitcoin price.

Peter Schiff is a chief Economist & Global strategist. In the Crypto sector, he is known for his Bitcoin hate comments. According to Peter Schiff, Bitcoin & other cryptocurrencies are backed by nothing and people should remain away from these types of all virtual currencies because these are highly volatile and risky, as these are part of illegal money transactions.

On 25 Jan 2023, The Global strategist said that people are watching the Bitcoin price rally, which surged 30% in the last 3 weeks.
According to Peter, it is the worst thing to see a price rally, instead of selling & advising other people to sell Bitcoin.

Further Bitcoin hater said that all those people who are looking at Bitcoin price rallies & also not selling their coins will get nothing because this price increment will again follow a reverse path.

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Do you know what's worse than advising people to sell #Bitcoin, then watching it rally 30% over the next week? Owning Bitcoin, watching it rally 30% in one week, not selling any, then watching the entire rally reverse and Bitcoin crash below the level it originally rallied from.

— Peter Schiff (@PeterSchiff) January 24, 2023

A Bitcoin supporter indirectly criticised Schiff and said what he will say when Bitcoin will hit $100k in the future. Then Schiff said that he will say nothing because the $100k trade price of Bitcoin is almost impossible.

I probably won't tell them anything at Bitcoin $100K as it's unlikely Bitcoin will ever trade that high.

— Peter Schiff (@PeterSchiff) January 24, 2023

Bitcoin price action

The current price of Bitcoin is $22,915 and this price is 37.18% high over the last 30days trade price.

This BTC price should not be considered a very big achievement because, at this price point, Bitcoin is still down by 38% over the last 12 months of trade price.
Just a couple of days ago, Goldman Sachs ranked Bitcoin as a top-performing asset of the year.

Read also: The US SEC seems not ready to allow Circle to go public

Peter Schiff says it is bad watching Bitcoin rally but not selling

 

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