More and more, the bitcoin and crypto community is calling Peter Schiff out on his lies and propaganda. They are beginning to realize that not only does Peter not understand crypto and spreads incorrect anti-crypto propaganda, but he also uses bitcoin as a topic in his headlines to garner attention for his own business.
We have witnessed Peter incorrectly predict the market over and over. Cointelegraph pointed this out, and Peter flat out called everyone in bitcoin liars.
The full quote:
The Bitcoin community continues to slam me for my negative forecast on Bitcoin. This article is typical, stating that I should be ignored as I "have a history of failed predictions", that "my previous incites have been proven false," and that I have "yet to guess the market trajectory correctly." These are bold faced lies. But since everything about Bitcoin is a lie, it makes sense that its promoters would lie to defend it, and attack those trying to expose their lies. While it is true that I have been skeptical of Bitcoin's ability to function as money from the beginning, I never said the price could not go up if other people bought it under the false perception that it could. I never publicly encouraged people to knowingly participate in a bubble, but I conceded that the bubble could get bigger. In fact, on CNBC when Bitcoin hit $5K i stated that it could rise as high as 20K. When that prediction came true I publicly declared 20K to be the peak of a blow-off top. So far that call has been correct. Bitcoin has been in a bear market for the past two years. So I have been correct about Bitcoin during that time, while all of the bulls have been wrong. Where is the criticism of all the Bitcoin heavyweights who predicted that Bitcoin's price would be well above 50K by now?
Let's break down the Peter Schiff propaganda as we pop the #peterschiffbubble.
- He has had a history of failed predictions.
- His previous incites continue to prove false.
- He always guesses the incorrect trajectory. He believes it will enter sub-$1k levels and eventually hit zero. He doesn't even seem to understand that this runs on a 4 year halving cycle. He totally discounts it.
- He claims that he called the $20k blowoff top, and that the bulls have been wrong. Everyone in bitcoin knows that based on the 2013 and 2017 bull runs, that most likely we will not see another true bull run until after the 2020 halving, going into the end of 2021. I have a feeling, depending on the market, and what happens with the typical consolidation and pullback we normally see, that 2022-2023 will be a repeat of what we have witnessed from Peter in 2018-2019. And during the bull run in 2020-21, he will continue to push that gold agenda at the expense of bitcoin and crypto.
Sources:
https://www.facebook.com/PeterSchiff/
https://cointelegraph.com/news/ok-doomer-peter-schiff-is-convinced-bitcoin-will-now-crash-to-1k?fbclid=IwAR15y2fu4Dsur73r0tWTCwTYzV3SKuY1afQPOyoU4VvruJVsgkwqr9UDqls