Peter Schiff, a leading critic of cryptocurrencies, believes that bitcoin whales are selling their assets because they are worried that the price of cryptocurrencies will fall further.
Peter Schiff, president and founder of Euro Pacific Capital and SchiffGold, believes that Bitcoin whales are depleting their BTC assets at current price levels. He also commented on the reasons why the price of Bitcoin may return above $ 21,000 in the short term.
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Bitcoin whales are selling their assets
In a recent tweet, Peter Schiff said the whales, which pumped Bitcoin up to $ 70,000, are now selling their assets for profit. Whales sell their bitcoins to people who are desperate to buy BTC on the floor. According to Peter Schiff, bitcoin buyers will suffer at this point; Because the price of bitcoin is likely to improve to $ 8,000.
Peter Schiff believes that bitcoin whales will continue to sell. The only goal that might motivate whales to buy BTC would be to raise more liquidity and capital and then resell it.
About two weeks ago, famous YouTuber Davinchi Jeremie asked Peter Schiff to comment on the future of the Ramzars. “The price of bitcoin will never reach $ 200,000,” Peter Schiff replied. $ 2,000 will be the only possible price for the future of Bitcoin. Earlier this year, Peter announced that Bitcoin would drop to $ 20,000 and Atrium to $ 1,000.
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Source: u.today