Peter Schiff Once Again States Bitcoin Drop
Once again, established Bitcoin critic Peter Schiff has mentioned his opinions on cryptocurrencies and their inevitable fall. In his third feature on Joe Rogan’s podcast, the crypto-cynic mentioned several negative aspects regarding cryptocurrencies, stating that it was just a matter of time before a drop, mentioning his all-time “favorite” currency, Bitcoin, and saying that the coin would eventually plummet in price and drop under $1000 in price.
According to Schiff, in a previous debate with the chief executive officer of ShapeShift, Eric Vorhees, the debate was engineered in favor of the latter participant. The debate was a main topic on the podcast and began with Peter Schiff stating that the entire thing was rigged and set to claim Vorhees as the debate winner.
Additionally, he attributed his loss to the fact that the debate’s audience consisted entirely of Bitcoin supporters and that they were convinced into lying on the voting poll to ensure that he would lose.
Schiff has often described Bitcoin enthusiasts as savage in nature due to their unfathomable dedication to Bitcoin. He also confessed to missing out on the hype once Bitcoin was created up until this very day.
According to Schiff, he knew that digital currencies were initially a scam or fraudulent matter from the very beginning. He’s also convinced that cryptocurrencies are a bubble with an inevitable result of massive losses to individuals.
Almost ten years ago, he made his statement regarding the downfall of Bitcoin and its eventual demise and despite that, the leading cryptocurrency has seen a recent leap up to $7000 this week, breaking past its long-lasting resistance. Even with the recent climb, he continues to be adamant about his $1000 prediction for Bitcoin.