Peter Schiff Warns Bitcoin Will Crash Before ETF Launch – BlackRock (NYSE:BLK)


Thousands of Investors Boost Success Rates With Options

For a limited time, options expert Nic Chahine will give you access to his pro-level options picks practically free. Thousands of investors are improving their success rate by trading options. So when you claim your $0.99 offer now, things could potentially start looking drastically different in your portfolio! Get this 93% off special now before it’s taken down forever.

Renowned economist and cryptocurrency critic Peter Schiff has warned that Bitcoin (CRYPTO: BTC) will crash before BlackRock Inc.’s (NYSE:BLK) highly-anticipated spot Bitcoin exchange-traded fund (ETF) launch.

What Happened: Schiff shared his prediction on Friday, after looking at the results of a poll he conducted asking people when Bitcoin will crash.

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you’ll also get Benzinga’s ultimate morning update AND a free $30 gift card and more!

“Based on the results my guess is that Bitcoin crashes before the ETF launch,” Schiff said, adding that those who bought the rumor won’t profit if they wait for the launch to sell their Bitcoin holdings.

Based on the results my guess is that Bitcoin crashes before the ETF launch. That why the people who bought the rumor won’t actually profit if they wait for the fact to sell.

— Peter Schiff (@PeterSchiff) November 10, 2023

Schiff’s Bitcoin crash poll received over 24,000 responses, with over 68% saying “Buy & HODL till the moon.”

Schiff’s Bitcoin ETF skepticism is not new – in October, he said that the demand has been “over-estimated” and it’s actually the Bitcoin owners who are waiting to sell.

“The Best Report Benzinga Has Ever Produced”

Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! Discover extremely undervalued stock picks before they skyrocket! Time is running out! Act fast and secure your future wealth at this unbelievable discount! Claim Your $0.99 Offer NOW!

The gold bull has previously dismissed the belief that a spot Bitcoin ETF would increase adoption. “All it does is make it easier for some speculators to place directional bets on price,” he said.

See Also: BlackRock ‘Increasingly Confident’ About SEC’s Approval Of Its Spot Bitcoin ETF: Report

Why It Matters: Bitcoin prices have surged over 37% in the last one month to hover around the $37,000 mark in anticipation of the ETF receiving SEC approval by Nov. 17.

Schiff acknowledged the run-up, stating that this is because speculators have “front run” the Bitcoin ETF.

However, Schiff maintained his position that once the speculators start selling, there won’t be many people left to buy the Bitcoin ETF. “Get ready for a crash,” he warned.Read Next: Bitcoin Reclaims $37,000, Pulls Ethereum Higher As Dogecoin Consolidates: A Look At Crypto Into The Weekend

Photo: Courtesy of Wikimedia Commons

Thousands of Investors Boost Success Rates With Options

For a limited time, options expert Nic Chahine will give you access to his pro-level options picks practically free. Thousands of investors are improving their success rate by trading options. So when you claim your $0.99 offer now, things could potentially start looking drastically different in your portfolio! Get this 93% off special now before it’s taken down forever.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.





This article was originally published by a www.benzinga.com . Read the Original article here. .