Topic: Peter Schiff Advices Don't Buy the Dip - page 2. (Read 454 times)

Yes, I will capture it because I don't know if that is the last opportunity  for me to embrace such a good things in the community. This is the opportunity many traders has been hoping to see in crypto market before they can buy and hold for the bullish season to come before they can sell to make a good money. I believe the crypto price has decreased to a level where traders can buy huge amount of coins and hold for future purpose.

You ignore his tweets but at the same breathe you agree with what he said that bitcoin could go down much further is the most palpable. I would agree with you regarding buying bitcoin right now but given the current winter in the market, I think that we have to wait it out a little, try to make sure that you can get the most out of what amount you're shelling out.

He is also one of those who propagate negative things about bitcoin so I usually ignore his tweets.


It is true that bitcoin could fall even further possibly below $20k in the near term, but that doesn't mean we should wait for bitcoin to drop. Bitcoin is a long term investment buy it now and hold it for the next 2 3 years it will definitely pay off so no need to take the advice of a bitcoin hater and miss out golden opportunity.

I think better advice would be to not buy when Bukele is buying the dip  
Every single time that wanna-be trader has bought the dip it went lower and lower just a few days later.

Right now he hasn't yet bought despite getting a 30% discount so by all logic this should be the real bottom, despite what Schiff says.


You're ignoring the people that
- bought at 50k,  40k and at 30k thinking it won't go lower than this
- people that sold at 60k, 50k, 40k, and 30 k and are laughing their ass off seeing how they can buy 3 times more coins in some cases now

Everyone is saying weak hand, hold till death, but at the same time, some of the weak hands are raking a profit now!


Doesn't look like that right now, isn't it?

I dont know about that trend of price rise correlating to Peter Schiff's "advice" but he
isnt going to influence Bitcoiners or anyone else who has been sitting on the sidelines
waiting for such a price opportunity.

When the price was $60k + a lot of people were thinking I should have got into Bitcoin
when it was $20k or I should have bought more.

and when we hit $60k again I'll bet there will be people cursing themselves for
following Schiff's "advice".

Gold is supposed to be inert, neutral and a boring commodity.   His real take is Dollar decline hence gold and his alignment to BTC somehow he comes into this circle of debate via that route of currency alternatives.
  To invest in gold you would need to take the mining companies who pay a dividend, but they also take horrible losses when the price of gold drops too much relative to costs such as oil.   To hold plain gold is just commodity storage, it costs money to do this and again its really a bet that Dollar diminishes and so price of gold rises.  Speculative activity not investment exactly.

The ironic thing is Schiff was criticizing BTC since 2011 or earlier.  If he spent an hour of his time/wages for each negative post at that moment on buying BTC instead, call it an experiment a demonstration but if he put his money where his mouth is, ready for it to decline and label BTC trash he would have done well right upto now.   After the price drop even if we drop more he would still be well in profit and without any big cost to do so just some slight optimism on technology development together with that never ending Dollar decline.
  Its unfortunate that people bother to be negative on something they arent really involved with.

It was just only half and not complete because if he do pertains or do talks about buying on the recent dip then people wont really be precisely be following on whats been suggested with some known people

or popular as this on where we do make out own decisions whether we do buy on this dip or wait even further its our call and its just sensible that we dont really make ourselves get

directly involved on any calls or speculations made by these people.Do your own research and analysis and made decisions which you do seem fit.

He is not 100% wrong. Just because there will be a recession doesn't mean that we will be doing terrible in the future, but there is a high chance that it could happen. Crypto was our way out of the markets and that means when there is a recession, we should be going high because people should be moving further away from the fiat world and move into crypto, and that was literally the reason why it was created, literally on 2008 crisis as well.

However, there is a good chance that people will not see this, just like they keep missing out many benefits of crypto, and instead opt for something that would be a little bit more like running away from it, I wouldn't be shocked.

Look
If you had
One shot
Or one opportunity
To seize everything you ever wanted
In one moment
Would you capture it
Or just let it slip?

Eminem

If only he will say that don't buy this dip because there is another dip that will come, it would have sound better but some of his predictions are correct because btc and eth has dropped once again and it looks like they are heading on the said price which is 20k for btc and 1k for eth but before I saw this thread, there was one thread before that I saw that predicted the same thing for btc that it'll drop around 23k and 20k.

It seems legit. This guy here said to sell btc to pay bills will worsen the situation? But what if you don't have money? Will you choose your electricity to get cut out over selling your btc's? He can only say this because he is not on those situations.

It could also be that Peter Schiff himself may have wanted to buy Bitcoin but cam not and he is reacting negatively to not collecting as much as his demand. Because as we have seen before, those who were opposed to Bitcoin at first, later most of them regretted it and still some are waiting for the dip.

The guy might be correct in his last few tweets for the past couple of months, basically since the peak in November. However you need to understand he has been posting negative Bitcoin tweets for years.

And what is worse he has been tweeting nothing but bullish Gold tweets for years and if you look at the charts. Gold has been a horrible investment.

Sure it wouldn’t make you lose money but there were better investment. Like stocks or crypto or anything else pretty much.

Peter Schiff's advice might end up to be the thing that would turn the tide. There was a funny pattern being detected on a social media platform that every time Peter Schiff talks about Bitcoin, or more particularly trolls or criticizes about it, the more the price rises. Of course this is just some funny thing they play with against the old man.

Kidding aside, who would not be buying Bitcoin at this cheap a price? An opportunity as golden as this doesn't come knocking on our door too often. Let's grab it!

Yes I agree with you, that's why I don't understand people who open this kind of threads in order to make nasty comments on one particular person asking if he is on drugs and saying they fully understand why crypto enthusiasts are ignoring him. Peter Schiff was obviously right when he was saying Bitcoin is dangerous, it's not the new gold and it's not a hedge against inflation. Then I don't think it's the right time for attacking him like that.

Speaking of Jim Cramer...  While the Schiff indicator might suggest a bounce is in the works for the Bitcoin market, the Jim Cramer indicator seems to be saying there's more pain in store for stocks: https://twitter.com/jimcramer/status/1536413926379950086

When Jim says he's loading up on stocks here, you might want to run for the hills.  The funny thing is in the comments everyone is begging to know what it is he's buying exactly so they can short it.  Proof that you can be terrible at your job, but if you're entertaining there is always someone willing to listen to you.

As an investor and reading up with these kind of sentiments could really boggle up your mind and make out those questions in mind if you would go
or hold a little bit further when making some buying decisions because it could stir up with your own idea and preference whenever you do read up
these words which do came from those people who are knowledgeable but not precisely that correct in terms of price predictions.
So it would be still ending up with your own decisions in life.

When you quote tweets it's better to provide their links, in order to help people to check the context of the quotes and what the personality has really told as a whole. And I don't understand why you ask if he's on drugs, it's not very respectful toward him. Bitcoin is currently at $23k if it collapses to $17k like many are thinking it will represent a drop of -25%. It's a large loss for investors looking for a hedge against price inflation.

I wouldn't say Cramer states stock fundamentals.  If you watch his show he is basically throwing around wild opinions and trying to make it as interesting as possible with loud noises and funny graphics.  He's an entertainer and he gets paid to get you to watch his show.  He has to appeal to people to he pretends to have actual knowledge behind his comments, but the numbers don't lie.  He's basically the worst stock adviser you will be able to find anywhere.  A chicken pecking at the newspaper could literally make better investment choices.

As for Schiff, he is the opposite.  Cramer wants you to buy crap, so he floods you with information about the crap.  Schiff wants you to avoid crap, so he gives you reasons why you should avoid the sector.  In both cases, they've found a renewal of their careers by taking their stances, so I don't expect either of them to change anytime soon.  They are talking heads who are there to push 1 agenda.  It doesn't matter what's going on in the market.  Their view won't change.  It's their bread and butter.

Cramer at least states stock fundamentals whether he is wrong or not, Schiff has no interest in any part of crypto so he is not even in this sector.

Dont trade on leverage or have a plan and a stop loss, the market is trying to unwind all those sellers who have no choice in a vice like effect.   Schiff isnt involved with BTC or blessed with any insight so Im not sure the point of posting him especially.   I dont have any negative views on Schiff, its more an incorrect question put to him; I wouldnt ask him which racing engine performs best or many other subjects.
   The Schiff view is hard money, especially gold is the main basis of value for all things so a protocol like BTC is near to zero for him with no usage.   I think he did admit some use would continue long term and said some price in the hundreds is right.   Just that much to me is bullish, someone who hates BTC admits it can be used for many years and exchanged for worth.    The reason why he is out of line is we are nothing near to hard money, we have Dollar burning itself down to the ground in the continual failure of value to its holders.
    If Volcker was Fed chair and rates were 15% and it was all different then sure maybe BTC is 900, this isnt occurring within five years probably ever so we have Dollar appear up, its long term still declining and alternates such as BTC will continue even after this price adjustment.

FED rates news is Weds, thats current focus point.

Peter Schiff is to Bitcoin what Jim Cramer is to stocks.  You'd be far better off doing the opposite of what they say.  However, a broken clock is wrong twice a day and this does appear to be the case with Schiff this time.  I don't know how long this bear slide will last, but with Celsius putting DeFi in serious trouble, mtgox coins still waiting to hit the market, ETH 2.0 coins getting closer and closer to being unlocked, it doesn't look good.  This is the point in the cycle where you hold on for dear life and hope you are able to carry your investments to a brighter day.  Those trading on leverage or with high debt should really be making sure they can survive a $10,000 Bitcoin price.