🚨 JUST IN: Bitcoin's most famous hater just admitted he's stumped, and even told his followers to sell anyway.
Peter Schiff, the man who has declared Bitcoin dead over 20 times since 2011, posted this: "I'm not sure why Bitcoin didn't sell off today."
He didn't stop there. He added that the rally gives holders another chance to exit before resistance caps further gains, insisting there isn't much upside left, but plenty of downside below.
Read that again. A gold bull who's been calling Bitcoin worthless for 15 years just publicly confessed the market isn't behaving the way his framework says it should.
The actual answer he's missing sits in Washington, not on-chain. Goldman Sachs chief economist Jan Hatzius called a September Fed rate hike "very unlikely," pointing to soft retail sales, weak jobs numbers, and cooling inflation. Traders are now pricing just a 30.6% chance of a hike next month, a sharp drop from a week earlier.
Lower rate expectations ease borrowing costs and typically send capital straight into risk assets, Bitcoin included. That's the fuel Schiff can't explain away with gold comparisons.
This isn't new territory for him. He has publicly declared Bitcoin dead or doomed more than 20 times since 2011, when it traded near $17. (KuCoin) He's called for crashes below $20,000, predicted total ETF capitulation, and told followers to sell at nearly every major level on the way up.
Bitcoin is still here. Schiff is still confused. The pattern writes itself.
#Bitcoin #PeterSchiff #Crypto #BTC #Fed
Peter Schiff, the man who has declared Bitcoin dead over 20 times since 2011, posted this: "I'm not sure why Bitcoin didn't sell off today."
He didn't stop there. He added that the rally gives holders another chance to exit before resistance caps further gains, insisting there isn't much upside left, but plenty of downside below.
Read that again. A gold bull who's been calling Bitcoin worthless for 15 years just publicly confessed the market isn't behaving the way his framework says it should.
The actual answer he's missing sits in Washington, not on-chain. Goldman Sachs chief economist Jan Hatzius called a September Fed rate hike "very unlikely," pointing to soft retail sales, weak jobs numbers, and cooling inflation. Traders are now pricing just a 30.6% chance of a hike next month, a sharp drop from a week earlier.
Lower rate expectations ease borrowing costs and typically send capital straight into risk assets, Bitcoin included. That's the fuel Schiff can't explain away with gold comparisons.
This isn't new territory for him. He has publicly declared Bitcoin dead or doomed more than 20 times since 2011, when it traded near $17. (KuCoin) He's called for crashes below $20,000, predicted total ETF capitulation, and told followers to sell at nearly every major level on the way up.
Bitcoin is still here. Schiff is still confused. The pattern writes itself.
#Bitcoin #PeterSchiff #Crypto #BTC #Fed