Renowned financial expert Peter Schiff recently stated that Bitcoin is “dead” despite high trading levels. 📉 Schiff, known for his negative views on cryptocurrencies, based his latest comments on a comparison between Bitcoin and silver.
Since April, Bitcoin is up 2% while silver is up 21%. Schiff argues that this is evidence of an impending Bitcoin crash. However, Bitcoin proponents counter that Schiff is cherry-picking short-term data to support his views. Over the year, Bitcoin is up almost 60%, while silver is up just 14.46%.
Veteran trader Peter Brandt advises the public to ignore Schiff's pessimistic views on Bitcoin. Brandt believes Schiff is using his platform to highlight silver's gains to distract from Bitcoin's gains. 📈
Schiff remains skeptical. He argues that slow transaction speeds and high fees make Bitcoin impractical for everyday use. The battle between Bitcoin enthusiasts and skeptics like Peter Schiff is far from over$BTC #binance #Bitcoin