Famous economist Peter Schiff, nicknamed the “Gold Bug”, hinted that the spot Bitcoin ETF expectation may have been priced in and a sales wave may occur in the coming period.
Peter Schiff 24 October He attracted attention with his social media posts on . Bitcoin hours ago rise The analyst, who made important statements during the to the dynamics focused.
Schiff said speculators continue to buy Bitcoin because other speculators are also buying Bitcoin. In anticipation of ETF approval Claiming that they thought they would buy Bitcoin lasted. However, he emphasized that it will soon be understood that there are more people waiting to sell than those waiting to buy:
Speculators are buying Bitcoin right now because they think other speculators will buy the spot Bitcoin ETF as rumored. They will soon discover that there are more speculators waiting to sell than waiting to buy!
Experienced name, spot Bitcoin exchange-traded fund (ETF) While stating that the possibility of their applications being approved may have been priced in, a possible in case of rejection The selling wave could be serious told:
Bitcoin is currently trading at $35,000 as speculators are driven by expectations that GBTC’s conversion to an ETF will be approved by the SEC. If they don’t sell before the ETF is approved, this could mark the top of the rally. If the ETF is rejected, the selloff could deepen.
Bitcoin, BlackRock iShares spot Bitcoin ETF USA’s largest stock exchange on Nasdaq responsible for the execution of transactions at DTCC It witnessed a huge rise in a short time after its listing. While some market analysts think that the rise may continue, others, like Peter Schiff, argue that all this expectation may be priced in.
According to CoinGecko data, in the last 24 hours 13% Bitcoin rising around, at the time of writing from $34,430 finds buyers.