Gold Defender Peter Schiff's Target Is Bitcoin Again! “The Party in BTC is Near End!”

Peter Schiff, known for his hostility to Bitcoin, did not sit idle again and criticized the recent rally that took BTC above $ 31,000.

Gold defender Schiff, who likened the last rally to the party, stated that BTC has now joined the party and claimed that the rally will end soon.

According to Peter Schiff, rallies end when the lowest quality things join the rally. At this point, Schiff thinks the rally will end soon, saying that BTC is of the lowest quality.

BTC enemy Schiff shared the following statements:

“Bitcoin and cryptocurrencies have acted separately from the rally in highly speculative assets until recently.

But now that Bitcoin has finally joined the party, this is perhaps a sign that the party will soon be over.

Usually, lots (rallies) end when the lowest quality items also join the rally. At this point, in my opinion, there is no lower quality than crypto. "

Until recently the rally in highly speculative assets excluded #Bitcoin. Now that Bitcoin has finally joined the party, perhaps it's a sign that the party will soon end. Usually rallies end when the lowest quality stuff finally participates. There's no lower quality than #crypto.

— Peter Schiff (@PeterSchiff) June 23, 2023

Although Peter Schiff argues that the rally in Bitcoin and altcoins will end soon, some analysts think that technical indicators will continue to rise in BTC.

So much so that Matrixport research head Markus Thielen stated that according to the greed and fear index he examined, BTC will continue to rise after a consolidation phase.

*Not investment advice.