Peter Schiff called for getting rid of bitcoin

Famous bitcoin critic Peter Schiff has once again been actively promoting the idea among his Twitter followers that cryptocurrency owners need to get rid of BTC. Schiff started such rhetoric again after the BlockFi cryptocurrency platform announced its inability to operate normally.

This doesn’t look good, but it’s to be expected. Lots more to come. Sell your #Bitcoin if you can, as many people who would like to sell can’t. https://t.co/SAwrlp68lP

— Peter Schiff (@PeterSchiff) November 11, 2022

However, the Binance-rozirvala-ugodu-pro-pokupku-ftx/">drama of Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried 's cryptocurrency exchange is not the only reason why Peter Schiff is worried about the future of the first cryptocurrency. According to the economist, the latest CPI (consumer price index — ed.) data release did not benefit either bitcoin or the cryptocurrency market as a whole (this is not true — the growth occurred despite the problems of FTX).

Schiff’s reasoning is based on the current state of the cryptocurrency industry, which is likely to experience further shocks. The expert believes that the digital asset market is currently too risky for investment, and the maneuvers of the Fed (Federal Reserve) will not save it from a potential collapse.

Pessimistic sentiment about the bitcoin exchange rate was evident throughout the week. Yesterday, cryptocurrency analysts at JPMorgan Investment Bank predicted that bitcoin would fall to record levels. «…Bitcoin is likely to reach the lowest levels of the summer period, when its rate dropped to $ 13,000,» the analysts said. Cryptocurrency expert Peter Brant supports JPMorgan’s position. Michael van de Poppe, the founder of Eight trading company, disagrees with them — even before the collapse of the FTX crypto exchange in late October, the expert predicted the November rate of BTC at $ 30,000.

It should benoted that at the time of writing, the rate of BTC $60,982.37 Bitcoin -2.55% Market capitalization $1.2 trillion VOL. 24 hours $1.36 billion is $ 17,366.