- Crypto-critic Peter Schiff said gold is only up $10, trading at an 8-month high.
- Schiff hinted that hodlers must drop Bitcoin even if its trading above $18K.
- Bitcoin is up 4.5 % to about $18,182.41.
Economist and popular crypto cynic, Peter Schiff has once again missed no opportunity to criticize Bitcoin as he suggests holders to sell Bitcoin. The gold enthusiast instead pointed out gold trading at an 8-month high.
At a time, when Bitcoiners can see a ray of hope with its 9-day-long winning dart, Schiff took a dig and tweeted:
Bitcoin is trading above $18K, its highest level in 3 weeks, an excellent opportunity for HOLDers to sell ahead of the release of the Dec. CPI. Gold is only up $10, trading at an 8-month high. While Bitcoin has already broken down, gold has broken out. Time to drop Bitcoin.”(sic)
His apprehensive tweet prompted scornful responses from several crypto enthusiasts.
Schiff had recently claimed that gold will be performing well in 2023. He had also made claims that people investing in Bitcoin instead of gold at inflationary highs will suffer huge losses in 2023. He added that Bitcoin has a price but no value and people will soon wake up to this reality.
As for the world’s largest crypto Bitcoin, it has added more than 10% this month and Ethereum has added around 17%. Both cryptocurrencies slumped more than 60% last year.
At the time of writing, Bitcoin is up 4.5 % to about $18,182.41. Bitcoin’s daily trading volumes have seen a jump to $33.398 billion. Data from Coinglass has revealed that over $296.24 million worth of Bitcoin futures trades were liquidated over the past 24 hours.
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