Renowned cryptocurrency critic Peter Schiff admitted that his Bitcoin prediction was wrong.
Twitter user Sharkybit posted a screenshot of a forecast in which Schiff claimed that the price of BTC will fall as soon as the price of gold begins to rise.
Schiff replied:
bitcoin. BTC did manage to touch $ 12k. This was mainly due to the gold correlation and the massive TV advertising campaign launched by Grayscale.
He also added that the fall to $10 thousand marks the beginning of a new bearish run.
BTC is trading at around $ 10,200 at the time of writing, down 15% from its August high of $ 120,000. The correlation between gold and bitcoin has been around 0-20% for two weeks now.
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Based on materialscointelegraph.com
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