Bitcoin (BTC) Is Following a YOY Decline Despite Hype

Peter Schiff shared: Even though Bitcoin rallied 35% from its Jan. low, it’s still down almost 4% so far in 2022. More importantly, it’s down over 4% on a year-over-year basis. On Feb 6^th, 2021 Bitcoin closed at approximately 46,400 dollars. This YOY decline comes despite unprecedented promotion and hype!

Community Response:  KPMG. Heard of them?

KPMG adding Bitcoin and Ethereum is bigger news than Tesla adding BTC, no matter the relative size of the allocation. KPMG is a BIG FOUR ACCOUNTING FIRM!! People go to them for advice on exactly this kind of stuff. Tax, accounting, consulting. HUGE!

You know very well that will never happen. He’s always right at the end. Don’t know when it will be, but it sure will be. Bitcoin is nothing, it’s only your imagination of becoming rich, and you know how those imaginations end.

Bro, gold is dying… is controlled by greedy old men, while the population keeps losing money thanks to his generation’s failure managing the economy… the dollar is dying… my generation and the next ones will never hold gold…

Your generation will not hold gold? Do you think generations before held gold? No, they all worked for gold only very few had in each generation. That’s the difference between the very few rich and the masses of poor working. Of course, you won’t hold gold, cause you won’t have any…..

Do you know why you won’t have any, because you will hold on to bitcoin which will make you, well, what you always have been, a poor man thinking bitcoin will make you rich?

A poor man, because I held to the best-performing asset in the last decade gold maxis are funny, they’re up 3% with their greedy gold that needed exploit of people to held value… mined by the poor, controlled by the rich.

Best pumper and advisor on Twitter. What he says, is you do the opposite and you will be wealthy soon. Bitcoin went up more today than GOLD has in the last year. Bitcoin also went up more today than GOLD has in the last 10 years.

No one has lost with gold yet, and many with cryptocurrencies. And it will be even worse.

You have lost the same purchasing power as fiat, as gold is the same price it was a decade ago, (down from 2k high). Everyone has lost with gold… diversification, adaptability… gold, silver, and Bitcoin. Bitcoin is not the same. The Crypto’s are not decentralized + poss securities.

Gold will never be worth anything, but Crypto will be there soon. Gold, even if we compare it to goods today, is worth more than ever. This cannot be said for the crypt.

Bitcoin is not crypto… and gold is not worth as much as when it was 2k, so no.

Right. Bitcoin is not crypto due to medieval cryptography and code errors that will erase the blockchain.

Wrong. You misunderstand… Bitcoin is not ‘crypto’, not ‘a crypto’… as in it is differentiated from the altcoins because it is decentralized and not possible security.

Hey Peter. Serious question for you. Is there a price for Bitcoin to hit before you’d change your thoughts on it? What if Bitcoin hits 100K or 200K? Higher? Or is there no price to make it appealing for even a portion of your portfolio in your eyes? Thanks.

PeterSchiff doesn’t even have to admit he is wrong. Just answer the question whether there is a price that would change your thoughts on the appeal of #bitcoin Yes or no?

Bitcoin is going to be legal tender in at least one US State by the end of 2022. Texas, Arizona, California, and Michigan are all in the running. The price could easily gap to all-time highs on the first announcement and the shorts are terrified.

It would be better if you spent your time talking about what you know. You seem obsessed with trying to time Bitcoin’s collapse. I happen to believe that in the long run central bankers will not concede power to the cryptos. That will lead to cryptos being banned. But when?