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Peter Schiff continues to Bash Bitcoin: Anyone who doesn’t sell their Bitcoin now has no one, but themselves to blame for their losses. HODL at your own risk and prepare to lose everything. Don’t say I didn’t warn you. And, don’t reply that this tweet won’t age well because it will.
Anyone who had anything to do with the promotion, sale, trading, or custody of or any crypto currency or crypto related equity had better lawyer up quick, as you are about to be sued. The saying “hope springs eternal” certainly applies to Bitcoin HODLers.
Despite, being below any viable chart support, the price of Bitcoin is just drifting lower. It’s still trading above $28K. Selling now is not panicking. It’s smart to cut and run. It’s dumb to hold and hope!
Investors made the mistake of overpaying for momentum stocks and now they’re making the mistake of selling gold & silver stocks. Investors failed to recognize an inflation fueled bubble and now they fail to recognize that inflation is here to stay and likely to get far worse.
This is a common situation as retailers are reluctant to raise prices to fully cover soaring costs. Before the year is over, retailers are likely to throw in the towel. They will raise prices substantially and deal with fewer customers by laying off workers.
Community Reaction: They’re pushing BTC price down so they can buy in, wake up. They’re going to ditch gold. They want returns.
Markets never just reflect the fundamentals, but also embed our psychological weaknesses, and these flaws themselves drive the movements of the markets. If enough people believe markets will fall, they will fall. And if enough believe that they’ll rise, then they’ll rise.
Very interesting that people continue to overlook the stability that gold has had throughout this market disruption.
The only thing is the market does it’s own thing. You can’t tell it what to do.
It’s all psychology in this world today, not fundamentals. People are going to sell everything and anything until someone talking on CNBC tells them to buy. The world we live in has now turned into a trader’s paradise.
Anyone holding Bitcoin now will clearly double its investment during the next bull, holding gold is not a bad thing but will never double from its current price, and eventually drop.
Bitcoin is still going strong after a decade.
