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Bitcoin at $20,000 Likely to Be False Bottom: Peter Schiff


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Yuri Molchan

Vocal Bitcoin opponent Peter Schiff issues yet another warning to Bitcoin holders, telling them to “abandon the sinking ship”

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Head of Euro Pacific Capital and founder of SchiffGold, economist and podcaster Peter Schiff, has taken to Twitter to share another piece of advice on Bitcoin with the community.

He believes that the level at which Bitcoin is currently holding is most likely a false bottom.

“The $20,000 bottom may drop out”

The Bitcoin hater pointed out that the flagship digital currency has been exchanging hands near the $20,000 level for nearly two weeks now.

He believes that Bitcoin is luring new investors to “climb aboard a sinking ship,” but $20,000 is likely to prove to be a false bottom, per Schiff.


His advice is “to abandon the ship,” otherwise, when the bottom drops out, it may be too late.


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