👉👉Bitcoin Enemy Peter Schiff Says A Great Disappointment Awaits Bitcoin ETF Investors! Here's Why 👈👈

Prominent economist and cryptocurrency critic Peter Schiff has issued a stern warning to investors in Bitcoin exchange-traded funds (ETFs).

Peter Schiff Warns of Huge Loss for Bitcoin ETF Investors as Bitcoin Prices Drop to $53K

According to Schiff, the recent decline in Bitcoin price to $53,000 means that a significant majority of Bitcoin ETF investors are currently at a loss. “At $53,000, I estimate more than 70% of those who bought Bitcoin ETFs are losing money,” Schiff said on Twitter.

Schiff also predicted a bleak future for Bitcoin ETF investors if the price of the cryptocurrency continues to fall. If Bitcoin falls below $38,000, 100% of Bitcoin ETF buyers will lose money, according to Schiff. “That's when I expect the real selling to begin, because most crypto ETF speculators will throw in the towel for good,” he said.

Bitcoin's latest price drop comes amid defunct cryptocurrency exchange Mt. This was attributed to several factors, including the expected payment to Gox's creditors. The market is also affected by broader economic uncertainties, including concerns about US inflation and interest rates. Schiff's comments come as Bitcoin suffers its most significant weekly loss since FTX's collapse in November 2022. The cryptocurrency lost over 13% in value over the week and is currently trading at the lowest levels since early May.

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