Economist Peter Schiff, who has been known for his criticisms of Bitcoin for a long time, once again became a doomsayer after the recent rise.
In his social media post dated February 27, Peter Schiff included statements that may worry Bitcoin investors. According to the old saying markets He went up by stairs and went down by elevator. Reminding economist, The situation is different in Bitcoin told.
In a newly adapted version of this old saying, Bitcoin goes up in an elevator and literally “jumps” on the way down. He warned about a possible sudden decline by stating:
There is an old saying that markets go up by stairs and go down by elevators. The situation is slightly different in Bitcoin. Bitcoin goes up in the elevator and then jumps down.
Schiff, who has hitherto stood out as a gold fanatic, had made similar comments about Bitcoin many times before and attracted the reaction of investors. Schiff was generally wrong in these comments and merely talked behind the rapidly rising cryptocurrency market.
According to CoinGecko data, in the last month 40% up Bitcoin exhibiting, at the time of writing from $59,374 is being traded.