Famous economist Peter Schiff, nicknamed the “Gold Bug”, stated that the bull market ignited by spot Bitcoin ETFs will be extinguished by them again.
In the past period, many people have spoken badly about Bitcoin and cryptocurrencies. Peter Schiffdated 4 March with description It angered investors again.
The rise in Bitcoin, the USA’spot Bitcoin exchange traded funds (ETFs) Schiff stated that this was possible thanks to the approval of ETFs will again be the thing that will end the bullish wave defended.
Investors who buy Bitcoin through ETFs these days want to put their profits into their pocket in the coming days. when they become sellers, The market cannot handle this emphasized:
The factor driving Bitcoin higher is Bitcoin ETFs. A Bitcoin rally fueled by ETFs will be capped by them as well. The amount of money coming out of ETFs will be much less than the money coming in. When ETF buyers turn into sellers, there will not be enough demand in the spot market to allow an exit.