Peter Schiff: “After halving, no one will buy bitcoin”

Cryptocurrency skeptic Piter Schiff continues to oppose Bitcoin.This time he expressedthe opinion that halving the reward to miners will make Bitcoin unpromising for a purchase.

In a post on Twitter, an economistemphasized that too many people expect the price of the first cryptocurrency to rise after halving the award to the miners. He believes that such investors will be greatly disappointed.

“Everyone expects the growth of Bitcoin, many speculators have already been purchased. And there is a risk of a huge "sale in fact", when people who invested money will return them, "said Schiff.

This is a popular saying among traders"Buy by rumor, sell by the fact." That is, you need to buy before any event has occurred that affects the rate of the asset. Schiff believes that now too many people are holding bitcoins, so a massive sale of the asset is inevitable.

“Many bought Bitcoin because they rely onheight. But they are wrong. And when the halving happens, there will be no one to buy bitcoins. Only sellers hoping for profit will remain. Everyone who wanted to buy bitcoins has already done this, ”he wrote.

Recently, a cryptocurrency skeptic said that everyoneBitcoin fans will soon have to “learn a very expensive lesson.” In addition, at the end of March, Schiff called the supporters of the first cryptocurrency “fools” and called for investing in gold.

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