Bitcoin critic wants Bitcoin to hit $5k


Peter Schiff claimed that 2023 will bring more sell pressure in the Crypto market.

Peter Schiff is a popular Bitcoin critic and in the past, he passed many negative comments over the volatile & decentralised nature of Bitcoin. By profession, he is an economist & Global strategist and he believes Bitcoin is backed by nothing.

On 30 Dec, Peter Schiff tweeted that Crypto Investors should not think that 2022 was a bad year because 2023 will bring a very bad situation, worse than 2022.

“If #crypto investors think 2022 was a bad year wait until they get a load of 2023. Despite this year’s 65% collapse, the faithful remain optimistic that #Bitcoin    will soon moon to new highs.”

Further, he added that it will be enough for Bitcoin to hit $5k, to create fear among Bitcoin investors & holders. 

Later on 31 Dec, Peter claimed that 700 BTC sold by Microstrategy was not any kind of tax saving strategy, because they are already holding a very big amount of Bitcoin which was in loss by approximately 50%. 

On the same day, Peter compared Bitcoin with Gold and noted that Gold performed more perfectly than Bitcoin, where bItcoin secured a 1% gain while Bitcoin was down by 64%. 

It is worth noting that, once Peter claimed that Bitcoin will fall badly. At that time the price of Bitcoin was $3,800 but after that Bitcoin pumped and touched $69k.

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