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Peter Schiff: Bitcoin will fall before the launch of spot Bitcoin ETFs

Euro Pacific Capital President Peter Schiff conducted a poll on his X (formerly Twitter) about when Bitcoin would crash.

68.1% of respondents believe that the asset should be bought and held. 23% of respondents predicted the collapse of the first cryptocurrency after the launch of spot Bitcoin ETFs; according to 8.9% of readers, the collapse of Bitcoin will occur even before the launch of exchange-traded funds.

Peter Schiff himself commented on the survey results:

“Based on the results, I expect Bitcoin to fall before the ETF launches. So people who bought into the rumors won’t make a real profit if they wait to sell.”

In May 2022, Schiff said that the price of Bitcoin would drop to $8,000. Bernstein analysts previously predicted that if spot Bitcoin ETFs are approved, the price of the asset will reach $150,000 by 2025.

Source: Cryptocurrency

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