Monday, May 29

“Bitcoin is dead” – Critics reappear after Bitcoin crash

Despite its appreciation of 28% in the last twelve months, 418% in two years and 3,015% in five, Bitcoin critics take advantage of any correction to claim that the world’s largest cryptocurrency is dead.

As examples we have Peter Schiff and Mr. Whale. While the former claims that gold, its main asset, has not seen any losses, it is important to note that it has not gone up either, unlike Bitcoin.

The famous profiler Mr. Whale, bitten at being mocked for missing a prediction in August, now takes advantage of the rookie’s moment of panic to mock the bulls. Despite this, his prediction from last year is still far from being realized.

Peter Schiff, one of the biggest haters

Europac’s Chief Economist and Global Strategist Peter Schiff makes a point of appearing on Twitter whenever a red candle appears on the Bitcoin chart, as if he always left this tab open.

In this latest fall, Schiff took the opportunity to tweet more than ten times about Bitcoin, even criticizing investors like Michael Saylor and even the news channel CNBC.

As a highlight, he took the moment to try to cause panic, stating that it is highly likely that Bitcoin will fall below 10 thousand dollars.

“#Bitcoin has finally broken out of the head-to-shoulder pattern. The scary part for anyone who is in the favor is that the pattern projects a move below $30,000. Once that level is breached, Bitcoin will have completed a massive double top. From there, a dip below $10,000 is highly likely.”

Leaving aside the attempts to cause fear in the market, its pessimistic forecasts are increasingly optimistic. After all, in 2017 he claimed that Bitcoin would reach zero, now he is already talking about bigger numbers, like 10 thousand dollars.

That’s exactly the point, both Bitcoin’s annual highs and lows are seeing great growth. Making haters raise their price predictions.

Mr. Whale Keeps Betting on Strong Bitcoin Correction

After leaving social networks after missing his prediction of a drop below $ 30,000, Mr. Whale returned with full force to Twitter this Friday by posting more tweets than Peter Schiff himself.

Standing out among the dozens of tweets is a projection — probably made in Paint — that points to a sharp drop to prices not seen in the last five years.

“The bear market is just getting started.”

Finally, it is worth noting that his prediction was for an 85% drop when Bitcoin lost the $30,000 support, that is, it would reach $4,500. However, the price of Bitcoin is still above this mark, trading at 35,000 at the time of writing.

Therefore, be careful not to fall into hater speeches that take advantage of moments of Bitcoin correction and fragility, thus avoiding making hasty decisions. Always do your own research and keep accumulating satoshis.