Bitcoin Whales Are Selling BTC Before Market Crash: Peter Schiff

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Tue, 10/29/2019 - 19:10
Alex Dovbnya

Peter Schiff ruthlessly shatters the dreams of Bitcoin holders who hope that the top coin will reach new highs, reiterating his point about market manipulations

Cover image via U.Today

Peter Schiff, the CEO of Euro Pacific Capital, is not amused by Bitcoin's latest 40 percent price revival

The world-famous gold proponent continues to insist that the crypto market is being manipulated by deep-pocketed whales. 

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In his latest tweet, Schiff states that large Bitcoin holders want to protect themselves from the upcoming market crash by selling their BTC and using delusional holders to cash in.   

After numerous pundits tried to wrap their heads around the recent market rally, Schiff took to Twitter to share his own take on Oct. 28. He believes that this Bitcoin turnaround had nothing to do with China and everything to do with whales "suckering in" gullible buyers.

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Bitcoin Price to Hit $55,000 after Halving, Says Morgan Creek Digital Co-Founder, Citing PlanB Analyst

Schiff rose to stardom by accurately foreseeing the financial market crisis in 2008, but Bitcoin price predictions might not be his thing. 

As reported by U.Today, he claimed that the BTC price could plunge to as low as $2,000 on Oct. 20, less than a week before Bitcoin recorded its third biggest daily gain in history

His $4,000 prediction, which was made right after Bitcoin's precipitous plunge to the $8,000 level, also never came to fruition.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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