Peter Schiff and Peter Brandt, two analysts who frequently share analyzes about the cryptocurrency market, got into a serious discussion.
The discussion first started after gold-loving analyst Peter Schiff commented on the performance of some assets recently. Citing a previous tweet, Schiff mentioned that the price of silver has increased by 21% since the beginning of April. In addition, he said that the increase in value of Bitcoin during the same period was only 2%.
Schiff claimed that people can make 10 times more profit with silver compared to Bitcoin. He claimed that Bitcoin was dead.
In response, Peter Brandt, a trader in the market for nearly 50 years, stepped in. Brandt, who is also known for his pro-Bitcoin statements, told his followers that they should completely ignore tweets like Schiff's.
In addition, he argued that Schiff aims to gain followers and attention by saying “nonsense” like this. However, he said Schiff “is not as stupid as those in his speech.” The analyst added that although Schiff's prediction about silver, one of his many predictions, came true, his predictions have generally come true so far.
*This is not investment advice.