Peter Schiff Again Takes a Dig at Bitcoin Says Bitcoin is 70% Down from It’s ATH

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Peter went on Twitter commenting on the recent price fluctuation due to coronavirus.
  • Bitcoiners went on opposing Peter’s tweet saying that Peter has been advising people not to buy Bitcoin since it was valued at $90.
  • Peter Schiff went on Twitter again criticizing Bitcoin and their buyers as bitcoin fall below $4000.

Peter Schiff went on Twitter again criticizing Bitcoin and their buyers. Due to global disease outbreak there has been price plunging over the past month.

Peter went on Twitter commenting on the recent price fluctuation due to coronavirus. He said that anyone who bought gold is still holding an upper hand to those who trusted on Bitcoin and bought it. He also stated some numerical facts stating that whoever bought gold is still down 14% while those who bought Bitcoin down 70%.

Bitcoiners went on opposing Peter’s tweet saying that Peter has been advising people not to buy Bitcoin since it was valued at $90.

Few weeks ago, he went on asking the public for their opinion on whether Bitcoin would fall and hit $3000 before gold. Last year, he also tweeted that it would fall all the way down to $200. He also compared that gold wasn’t getting any press coverage, unlike Bitcoins on CNBC.

Peter Schiff’s Lost Bitcoin

Acting like a fire to fuel, Peter Schiff once lost his access to this wallet. Peter tweeted that he lost all the coins he ever owned. His wallet got corrupted and his password wasn’t valid any more. He also went on saying that owing Bitcoin wasn’t a good idea but never realized that it would turn this bad. He said that it wasn’t his fault as he used that same password before in the past, it was the wallet’s fault.

Schiff also commented that Bitcoin’s price wouldn’t reach 100,000, if it reaches it would mean a market capitalization upwards of $1.8 trillion. But afterwards he admitted on twitter saying that he never said that the Bitcoin price wouldn’t increase, he even said that he concedes that anyone who bought Bitcoin 10 years ago and sells it now would make a lot of money now.

Bitcoin Lost it’s Safe Haven Status Amid Coronavirus Outbreak

The digital-currency has been trading near $10,000 by mid-February. Bitcoin’s recent price has been primarily due to the coronavirus outbreak which has been affecting the global market. Due to this sharp decline, Bitcoin potential as a safe haven asset is being questioned. Other cryptocurrencies are seeing decline due to the coronavirus outbreak, Ethereum fell by 46%, and XRP lost nearly 40%.  

It wouldn’t be wrong to say that Peter Schiff hates Bitcoin as much as Bitcoin bugs hate Peter. The gold bug doesn’t miss any chance of mocking cryptocurrency.

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