Opinion from Peter Schiff on further bitcoin decline The pres | 99 bitcoins

Opinion from Peter Schiff on further bitcoin decline

The president of Euro Pacific Capital (that's Peter Schiff) drew the public's attention by pointing out that the long-term support level is around $5,000.

"Even if you think bitcoin will eventually trade higher, it's hard to imagine that it won't test long-term support at the bottom line first. I think it will fail the test. In any case, it's better to sell now and buy cheaper," was Schiff's opinion.

It's worth noting that he often talks about the inevitability of a serious decline.

And in general, he can be called a bitcoin-skeptic and a supporter of gold. But he does not deny the possible growth of bitcoin up to hundreds of thousands of dollars