Outspoken Bitcoin critic and gold advocate Peter Schiff has reignited debate in the financial world with a bleak new outlook for the crypto market.
In his latest remarks, Schiff criticized Bitcoin supporters and CNBC analysts, accusing them of exaggerating the cryptocurrency’s strength compared to the NASDAQ.
According to Schiff, Bitcoin’s relative stability is only due to investors clinging to hope that it will eventually mirror gold’s performance. He warns that this patience won’t last forever. “Bitcoin will crash when people sell because they are fed up with waiting,” he said, predicting a major sell-off on the horizon.
Schiff’s comments have once again sparked tension between traditional finance and the crypto community, many of whom continue to see Bitcoin as digital gold.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/peter-schiff-predicts-bitcoin-collapse-investors-will-give-up-waiting/