After the FTX Crisis, Bitcoin (BTC) Opponents Day Has Risen: They Started Spreading FUD!

Reputed Bitcoin (BTC) and cryptocurrency critic Peter Schiff, block.fiAfter announcing that .

Peter Schiff Explains Why Bitcoin (BTC) Should Be Sell Now

Schiff also added that many more are coming in the foreseeable future. Followers, if possible, remaining in the stock market your bitcoins He advised them to sell it all.

This doesn’t look good, but it’s to be expected. Lots more to come. sell your #Bitcoin if you can, as many people who would like to sell can’t. https://t.co/SAwrlp68lP

— Peter Schiff (@PeterSchiff) November 11, 2022

The famous economist tweeted about BlockFI, “This does not look good, but it is expected. Much more to come. “Sell your Bitcoin if you can, because not many people who want to sell it,” he said.

For now, FTX is the only exchange among the top 10 exchanges that cannot handle withdrawals at full capacity.

Obviously, Block.fi’s situation was caused by the bankruptcy of FTX. The crypto lending and borrowing platform announced that it has stopped withdrawals. He also advised his clients to avoid depositing funds until further notice.

But Peter Schiff bitcoinThe FTX crisis isn’t the only reason why . According to the economist, the most recently released CPI data is Bitcoin or in general. cryptocurrency should not be viewed positively for the market.

Schiff’s reasoning is based on the current state of the industry, which will decline further if the FTX issue escalates. He believes that the market is too risky to enter at this point and that the Fed’s repositioning will not save him from a potential collapse.

Despite Schiff’s bias towards Bitcoin, the unexpectedly positive CPI statement has indeed been the impetus for the stock market, and the Nasdaq day 7.5% While completing with growth, Bitcoin could only close the day in green.

However, most altcoins gave investors double-digit gains yesterday, with some even returning to pre-FTX crash levels.

*Not investment advice.