Peter Schiff: "The current growth of bitcoin is a typical pump and dump scheme"

Peter Schiff expressed skepticism about the further growth of bitcoin and major cryptocurrencies, despite the optimistic mood of traders ahead of the planned halving of Bitcoin. Schiff wrote on Twitter that spot cryptocurrency ETFs, recently approved in the United States, are also creating a buzz around bitcoin. However, after the growth, a "massacre" will certainly follow, Schiff is sure.

In the comments, subscribers reminded Schiff of his inaccurate forecasts about the price of bitcoin — last year, Schiff assured that the bitcoin exchange rate would tend to zero. In January, after the launch of bitcoin spot ETFs, Schiff warned investors about a deep bear market and predicted minimal demand from institutional investors for these products.

In particular, the popular cryptocurrency analyst and trader Peter Brandt responded to Schiff's fears that in a year he would indeed be right, but it would not be the bitcoin market.

Sources: https://bits.media/piter-shiff-tekushchiy-rost-bitkoina-tipichnaya-skhema-pampa-i-dampa/