Bitcoin ETF

Bitcoin

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Bitcoin nemesis Peter Schiff accidentally&nbsp;<a href="https://x.com/_benkaufman/status/1817392340375343611">endorsed</a> the leading cryptocurrency in a recent social media post on the X platform.&nbsp;&nbsp;
Schiff pointed to the results of his most recent poll, which shows that 87% of Bitcoin holders would still refrain from selling the leading cryptocurrency even if its price were to crash by as much as 99%. In fact, these holders would keep buying more Bitcoin all the way down.&nbsp;&nbsp;
"Think about that before you buy," the financial commentator added in his social media post.&nbsp;
Even though Schiff's statement was meant to be a pointed critique of the leading cryptocurrency, many saw his polling data as an apparent endorsement of Bitcoin.&nbsp;
Some community members have pointed out that such a high level of conviction is actually bullish for the leading cryptocurrency since it has a higher probability of sticking around. "This is the best Bitcoin advertisement I've ever heard," one user wrote.&nbsp;
It is worth noting that&nbsp;<a href="https://u.today/super-bullish-bitcoin-btc-news-coming-in-next-few-days-samson-mow">Bitcoin</a> has already experienced its fair share of dramatic drawdowns. In 2011, it experienced a 93% plunge, and it took 460 trading sessions for the cryptocurrency to recover. Despite maturing and seeing mainstream success, Bitcoin still collapsed 77% during its previous bear cycle that took place from Nov. 9, 2021 to March 4, 2024. It took the cryptocurrency 469 sessions to finally enter a bull cycle.
So far, Bitcoin has always managed to come back stronger than ever after painful bear markets.&nbsp;
Schiff, who has been one of the strongest cryptocurrency critics since as early as 2011, recently predicted that the leading cryptocurrency could crash to as low as $3,500.&nbsp;
In April, he also warned Bitcoin ETF issuers that they would be&nbsp;<a href="https://u.today/bitcoin-etf-issuers-to-face-legal-nightmare-peter-schiff-predicts">facing lawsuits</a> from buyers due to substantial losses.&nbsp;

Peter Schiff Accidentally Endorses Bitcoin

U_Today

Άλλα άρθρα που δημοσιεύτηκαν στις 28 Ιουλ 2024

New Solana Memecoin Trump Fired Biden (TRUMPBID) Will Surge 17,000% Before First CEX Listing, Whi...

AI Cryptos Ready for August Boom Following Ethereum ETF Trade Launch – Don’t Miss Out!

ETHFI To Transfer Funds To Separate Multi-Sig Wallets, What’s Happening?

Zcash Price Prediction for Today, July 28 – ZEC Technical Analysis

Justin Sun Questions China’s Crypto Ban While US Braces for Crypto Lead

Senator Lummis Proposes $68 Billion Bitcoin Reserve to Bolster U.S. Treasury

Join our free newsletter for daily crypto updates!