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Peter Schiff, one of the most prominent Bitcoin critics, has urged investors to sell Ethereum (ETH) and buy the leading cryptocurrency.
"As much as it pains me to say, selling Ether and buying Bitcoin with the proceeds is a better trade than holding Ether," he wrote on X.
Even though Schiff does not like either asset fundamentally, he believes that Bitcoin might be a better bet based on technical analysis.
Moreover, he has noted that Ether has more "acknowledged competition."
At press time, ETH is changing hands at $3,755, according to CoinGecko data. The altcoin has substantially outperformed Bitcoin over the past week. However, Schiff is convinced that this was simply "a bear market rally."
Vladislav Sopov
U.Today Editorial Team