Cryptocurrency skeptic Peter Schiff (Piter Schiff) continues to oppose bitcoin. This time, he expressed the opinion that halving the reward for miners will make bitcoin unpromising to buy.
In a message on the social network Twitter, the economist stressed that too many people expect the price of the first cryptocurrency to rise after the reward for miners is halved. He believes that such investors will be greatly disappointed.
“Everyone expects the growth of bitcoin, many speculators have already purchased. And there is a risk of a huge “sale in fact” when people who invested money will return them, ” Schiff said.
We are talking about popular among traders saying “buy the rumor, sell the fact”. In other words, you need to buy before any event that affects the asset rate has occurred. Schiff believes that there are already too many people holding bitcoins, so a mass sale of the asset is inevitable.
“Many people bought bitcoin because they hope for growth. But they are wrong. And when the halving occurs, there will be no one to buy bitcoins. There will only be sellers hoping for a profit. Everyone who wanted to buy bitcoins has already done so, ” he wrote.
Recently, a cryptocurrency skeptic said that all bitcoin fans will soon have to “learn a very expensive lesson”. In addition, at the end of March, Schiff called supporters of the first cryptocurrency “fools” and called for investing in gold.