SEC official X page made a post yesterday stating that ETFs were approved. After this post, Bitcoin approached $48,000.
However, it was later announced that the ETF approval news was fake and BTC fell to $ 45,000.
While this ETF news caused speculation in the cryptocurrency market, many comments came about this news.
A comment at this point came from the famous Bitcoin critic Peter Schiff.
Pointing to the high volatility in the price after the fake ETF news, Peter Schiff argued that investors should understand this as a warning.
Stating that even fake ETF news causes high volatility in the price, the famous name stated that the market may experience more fluctuations with the expectation of a real Bitcoin ETF approval.
Schiff also warned that yesterday's volatility could herald a more serious disappointment if ETF approval is not received.
Finally, Schiff advised investors that they should sell their Bitcoins today and said:
“Bitcoin rose close to $48,000 and fell to $45,000 after the post of Gary Gnsler, who announced that the approval news of Bitcoin ETFs was fake.
An actual confirmation is expected on Wednesday. Considering that many speculators are expecting a rally, it is hard to believe that the market will deliver this expected rise in BTC.
It's better to sell today.”
#Bitcoin spiked near $48K then dumped near $45K following a hacked @GaryGensler post announcing the approval of #BitcoinETFs. An actual approval is expected tomorrow. With so many speculators expecting a rally, it's hard to believe the market will deliver. Better to sell today.
— Peter Schiff (@PeterSchiff) January 9, 2024
*This is not investment advice.
