It looks like Schiff wasn’t willing to take a break from cynically critcizing Bitcoin even on Christmas Day
Christmas conjures up images of warmth, happiness and peace. Unless you’re cryptocurrency critic Peter Schiff.
On Christmas Day, the loudest anti-Bitcoin voice had yet another message to share with Bitcoin proponents – a price chart suggesting Bitcoin is closer to its ceiling than its floor. “My #Christmas gift to #HODLers is this #Bitcoin chart,” tweeted Schiff. He then asserted that the “upside potential of Bitcoin is so low and downside risk so high, the smart move is to sell today.”
Schiff followed up his thoughtful gesture by warning HODLers to “sell today” due to the potentially high downside risk relative to the low upside potential. He then offered a grand closing offer to HODLers to thank later, which they will save by selling today.
In his next tweet, Schiff compared Bitcoin’s trajectory with gold in 1999–but said it would likely take a dramatically different path. He suggested that rather than breaking out, Bitcoin would “break down,” and labeled it “the anti-gold.”
According to Schiff, cryptocurrencies are only a means of speculation, not real money. He regularly argues that the value of bitcoin is based purely on perception and manipulation. Economists are convinced that gold is the only real “safe-haven asset”.
As reported by U.Today, Schiff recently said that he understands Bitcoin better than Bitcoiners themselves, which is precisely why he doesn’t own the largest cryptocurrency.
