American economist Peter Schiff believes that Bitcoin is losing value and has issued a warning to holders of exchange-traded funds (ETFs) dealing with Bitcoin. He argues that the outlook is not promising and advises investors to hope Bitcoin can hold the $60,000 level. While a drop wouldn’t shock seasoned investors, it could come as an unpleasant surprise to newcomers. Schiff noted that long-time Bitcoin enthusiasts are accustomed to significant declines, but beginners may face “bitter disappointment.”
Although Peter Schiff might be correct in some points, it’s important to note that he has consistently maintained a bearish stance on Bitcoin. Therefore, his analysis should be taken with skepticism, and investors are encouraged to conduct their own research before making decisions.