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Bitcoin (BTC) has outperformed a number of expectations since the start of the year as it has helped push the combined crypto market cap above the psychologically important level of $1 trillion. With the Bitcoin price now trading at $22,887.88, it has beaten the bearish predictions of its core critic, Peter Schiff.
Earlier in the year, Schiff posited that the bullish momentum that Bitcoin started the year with is a perfect exit opening for its investors. As reported by U.Today, Schiff advised HODLers to sell their coins when it was trading at $18,000 as he stood by his almost decade-old stance that the price of the coin is eventually going down below that price point.
Investors who might have heeded the sell-off call by Peter Schiff may be furious with the gold enthusiast at this time, considering the fact that the coin has grown by as much as 27% since that call was made. This was first revealed by Bitcoin bull Peter McCormack, who directly quoted the sell-off tweet from Schiff.
#bitcoin is trading around 27% up since @PeterSchiff advised you to sell your $bitcoin.
— Peter McCormack🏴☠️ (@PeterMcCormack) January 22, 2023
Gold isn't. pic.twitter.com/cookRRax45
At the time of writing, Bitcoin is up by more than 34.2% over the past 14 days to continue its positive growth streak for the year.
Alex DovbnyaBitcoin short-term outlook
There have been a number of positive predictions attesting to the likelihood of Bitcoin soaring to new heights in the short term. While the premier digital currency is still known to exhibit a high level of volatility across the board, many believe the current trade setup as well as its technical indicators are proof that more price upshoots might be incoming for the coin.
Many predictions about Bitcoin in the past have gone wrong, and Peter Schiff can take solace in the fact that even positive predictions do not always come to pass.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov