Peter Schiff, American stockbroker and financial commentator, shared his views on where Bitcoin is headed in a recent tweet on X.
Peter Schiff predicted that 100% of Bitcoin ETF buyers will lose money when BTC trades below $38,000. Schiff expects the sell-off to intensify once Bitcoin ETF buyers are underwater on their investment. Bitcoin swept a low of $53,485 early on Friday. As Bitcoin slips under key support at $54,000 early on Friday, Schiff predicts an intense sell-off once the asset drops below $38,000.
Schiff expects the Bitcoin sell-off to intensify as most crypto ETF speculators shed their holdings and realize losses. Schiff says under $38,000, he expects “the real selling to start, as most crypto ETF speculators will throw in the towel for good.” At $54K my guess is that over 70% of those who bought #BitcoinETFs are losing money. When #Bitcoin trades below $38K, 100% of Bitcoin ETF buyers will be losing money.
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