Peter Schiff, founder of Euro Pacific Capital and SchiffGold and a noisy Bitcoin competitor, claimed in a recent tweet, recalling his August 14 post, that his pessimistic predictions about Bitcoin came true, if not in the way he predicted.
The old post came days before the current Bitcoin crash, where the leading cryptocurrency fell more than the previous one. It did the same, 7% down below $22,000 and Ethereum at $1,700.
Schiff reminded the community in his tweet last Sunday below $10,000 that he predicted Bitcoin would likely challenge support in the near future. In terms of specs, Schiff warned that there were two bearish patterns – Double Top and Head and Shoulder Tops – producing an Ascending Wedge on that chart.
According to economist and fund manager Schiff’s tweet, falling $10,000 is a minor loss.
In a recent tweet, he tweeted that Bitcoin has dropped more than 14 percent in the five days following this message and is currently trading on the exchange. $21,300 Many accused him of promoting FUD on Twitter.
He stated that although his warning was ignored, it was still time to sell. Bitcoin :
On June 16, Schiff posted his statement on Twitter for five days ago. Bitcoin and Ethereum were potentially falling soon to 100% happen.
Following this prediction, BTC’s drop to just $80 is $ 20,000, while ETH is just $20 away from the expected $1000 level. As a result, leading coins fell 30 % and 40%, respectively. With the expected bottoms removed, Schiff said he was still waiting. “a real accident.”
At the time of writing, BTC is currently trading at $21,089