Peter Schiff Advices Don't Buy the Dip - page 3.

serjent05

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Quote from: BitcoinPanther on June 13, 2022, 01:00:26 AM

How about you?

I think the BTC price will continue to crash, we still have a long way as a Bear Market.

Quote from: BitcoinPanther on June 13, 2022, 01:00:26 AM

Would you let this another window opportunity to buy BTC at a lower price pass by?

No, I wouldn't I have lower targets for buying but that might not happen so I am taking my chance to at least buy some on this one.

Quote from: BitcoinPanther on June 13, 2022, 01:00:26 AM

Do you also think Bitcoin price will crash further?

It is possible and some bearish Technical Analyst thinks that it might go further down to $19k per BTC.

ethereumhunter

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Quote from: BitcoinPanther on June 13, 2022, 01:00:26 AM

How about you? Would you let this another window opportunity to buy BTC at a lower price pass by? Do you also think Bitcoin price will crash further?

I didn't let the opportunity to buy BTC at a lower price pass you by because I had set a buy target at $23k and it is already filled and the rest left as well. But I don't buy all at once or all-in, just to anticipate if the price continues to fall to lower prices. And if the bitcoin price is going to hit $20k, I'll set a buy target at that price and wait. I don't know if the bitcoin price will fall further or will bounce to a higher price than now because, in my opinion, the current market conditions are moving fast because many people are panicking about the market situation. Hopefully, $23k is the lowest point for bitcoin and after that, the price can bounce back.

davis196

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Schiff is sharing his opinion. He has the right to do so. Of course his opinions are NOT facts. This isn't a proper analysis. This is more like wishful thinking disguised as a pseudo-analysis. There's no recession so far. We are witnessing high inflation, but the unemployment rate isn't growing and the GDP isn't decreasing. Many "experts" are predicting stagflation, which might happen, but there's no 100% certainty.
He could be right about the BTC price dropping down to 20K USD, but for all the wrong reasons. The Bitcoin bears are willing to sell at 30K and buy the dip at 20K USD. His doom and gloom prophecy about crypto traders and companies going bankrupt might not happen.

hatshepsut93

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Who cares what Schiff says? He's not an analyst, he's a propagandist. He has a belief that Bitcoin will go down, and he will always construct "arguments" of why this will happen. Never listen to permabulls and permabears, their opinions are worthless. Find some who has a good track record of predicting things accurately in the past, rather than being a self-proclaimed expert.

bittraffic

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Quote from: buwaytress on June 13, 2022, 02:47:06 AM

Pretty dire, but this wasn't unexpected -- and I've to say his 20k and 1k valuations are scarily close enough to even be conservative. Considering that we're barely 25% away from those numbers right now.

As pooya says, definitely big smiles on the faces of guys like Schiff. But mind you, he's trying to get it even lower so he can re-up.

Oh he's into Bitcoin, even if he and his cut of cloth will never admit it.

If everyone will sell because they need cash because price of basic necessities are sky high then perhaps its true. Its a scary place to live while the world experience on of a kind inflation.

We really have to expect the worse when there is a bear market. Peter always remind people to buy gold and silver, I think he really have a good point in reminding us about it.

buwaytress

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Pretty dire, but this wasn't unexpected -- and I've to say his 20k and 1k valuations are scarily close enough to even be conservative. Considering that we're barely 25% away from those numbers right now.

As pooya says, definitely big smiles on the faces of guys like Schiff. But mind you, he's trying to get it even lower so he can re-up.

Oh he's into Bitcoin, even if he and his cut of cloth will never admit it.

pooya87

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Whenever there is a drop, even the smallest of drops, it has always been a celebration day for those who are against bitcoin and its growth because for a short window of opportunity they can pretend that their years of nonsense about bitcoin is "true".
Let's not forget how much Peter Schiff insisted that "bitcoin is a bubble" in 2017 when price was barely $2,000 and hadn't gone up to $20,000 yet. Today it is 10 times higher and even though he has stopped his extreme FUD but he is still spreading FUD.

Wapfika

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Although I agree with everybody's sentiment about the author of the article but his advice to not buy the current dip is maybe a life saver for retail traders since the US market is currently facing a big hindrance about inflation and possible recession. I know that most of us love to buy the dip but we should do this properly at the right price support. Right now there's no known support near the current price for the price to bounce back while the FUD is strong due to the recent fed announcement.

I watch this video to explain what's potential scenario will happen in the next few months and how inflation works in the US. Watch it here: https://youtu.be/o79943JEHkc

Wilhelm

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The dude has been on Tucker Carlson and FoxNews.... credibility -----> Window

GreatArkansas

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This person is already expected to make statements like this, especially negative things about Bitcoin.
We all know that this guy is a Gold maximalist and I don't know why he always attacks Bitcoin instead of shutting up with his gold?
Well, we should respect his views and opinions, this guy has his own belief about Bitcoin and Gold.

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Quote from: BitcoinPanther on June 13, 2022, 01:00:26 AM

When I read this article I was like.. is he on drugs?. Why wouldn't I buy this dip? This is like a Bitcoin on sales. Even if the Bitcoin market stays in bear trend in years, it will become bullish after this trend. We have seen it several times. I think he is forgetting the trading law of buy low sell high and if we can buy lower that will be better. Now I fully understand why many crypto enthusiasts ignore most of Peter Schiff advice.

Quote

Most bitcoin proponents continue to ignore all bitcoin and crypto predictions made by Schiff, with many seeing his gloomy expectations as a buy signal for BTC.

“Possibly the most consistently bad investment advice on public record,” one Twitter user wrote. Another asked Schiff: “Check bitcoin or Ethereum 5-year charts, then check gold’s. Which would you rather have held? Which would you rather hold for another 5 years?”

How about you? Would you let this another window opportunity to buy BTC at a lower price pass by? Do you also think Bitcoin price will crash further?

He is one of the most negative people on bitcoin. His opinion about BTC was also negative when the whole market was moving upward. I do not care or follow this person at all.

One thing I am certain about with BTC is that it will break ATH every 4-year cycle. This is inevitable because of its limited supply and as long as its community grows. And the bear market is the best time to grab more BTC, so I am buying the dip.

BitcoinPanther

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From the article : Economist Peter Schiff Explains Why He Expects Bitcoin to Crash as Recession Deepens — Warns 'Don't Buy This Dip'

Economist Peter Schiff predicts that the crypto market especially Bitcoin and Ether will continue to crash due to the need to cash out.

Quote

Economist and gold bug Peter Schiff has made some dire predictions about cryptocurrency, particularly bitcoin and ether. He explained that “The need to sell bitcoin to pay the bills will only get worse as the recession deepens,” adding that bitcoin is poised to crash to $20K while ether will sink to $1K.

He also say in his tweet that Bitcoin will continue to crash down to 20k while ETH to 1k.

Quote

Bitcoin looks poised to crash to $20K and Ethereum to $1K … Don’t buy this dip. You’ll lose a lot more money.

He stated the reason why this thing will happen and said that holders need to sell because of the ever-increasing price of commodities.

Quote

The need to sell bitcoin to pay the bills will only get worse as the recession deepens and many Hodlers lose their jobs, especially those working for soon to be bankrupt blockchain companies.

When I read this article I was like.. is he on drugs?. Why wouldn't I buy this dip? This is like a Bitcoin on sales. Even if the Bitcoin market stays in bear trend in years, it will become bullish after this trend. We have seen it several times. I think he is forgetting the trading law of buy low sell high and if we can buy lower that will be better. Now I fully understand why many crypto enthusiasts ignore most of Peter Schiff advice.

Quote

Most bitcoin proponents continue to ignore all bitcoin and crypto predictions made by Schiff, with many seeing his gloomy expectations as a buy signal for BTC.

“Possibly the most consistently bad investment advice on public record,” one Twitter user wrote. Another asked Schiff: “Check bitcoin or Ethereum 5-year charts, then check gold’s. Which would you rather have held? Which would you rather hold for another 5 years?”

How about you? Would you let this another window opportunity to buy BTC at a lower price pass by? Do you also think Bitcoin price will crash further?

Topic: Peter Schiff Advices Don't Buy the Dip - page 3. (Read 454 times)