It is normal for crypto skeptics to be wrong. And, although they have predicted the death of Bitcoin dozens of times, the cryptocurrency is in one of the best moments in its history. With a rapidly expanding community and close to hitting its highest ever price tag. Getting to the point where Bitcoin has grown 375% since Peter Schiff predicted its death.
The Bitcoin situation today
Today, it is practically impossible to question the strength of Bitcoin as a world-class financial asset. And it is that, after twelve years in the market, the cryptocurrency has gone from being treated as a product of no importance or value, created by some security and crypto enthusiasts. To become a product priced throughout the world by large capitals.
Something that is also supported by a constantly growing community. With millions of users in every country in the world, including stars like Maisie Williams. And an ever-expanding ecosystem of companies, including giants like Bitcoin, Huobi, and Coinbase, with revenues of tens of millions of dollars a year.
Bitcoin has grown 375% since Peter Schiff predicted its death. Source: CoinDesk
So it seems clear that those who predicted Bitcoin’s demise very early, like Peter Schiff, failed in their predictions. Now that the cryptocurrency is going through one of the best if not the best moment in its history. Heading in what appears to be an impossible to stop march, to reach new records in its price.
The Peter Schiff ruling
Probably the best example of crypto skeptics failures is Peter Schiff. And it is that, the gold tycoon has predicted the definitive death of Bitcoin on several occasions. Calling virtual currency a speculative commodity with no real value, and the biggest bubble you have ever witnessed in your life.
However, the most striking of Peter Schiff’s miscalculations occurred in March. When Bitcoin was worth around $ 3,600 per BTC, and Schiff took the opportunity to predict that thereafter the cryptocurrency would continue to decline. To the point where “the difference between having and not having Bitcoin is too small to matter.”
With #Bitcoin crashing below $ 4,000 I don’t feel so bad about having lost all my Bitcoin. At the rate my lost Bitcoin are losing value soon the difference between having Bitcoin and not having any Bitcoin will be too small to matter.
– Peter Schiff (@PeterSchiff) March 13, 2020
“With Bitcoin falling below $ 4,000 I don’t feel too bad about losing all my Bitcoin. At the rate my lost Bitcoin is losing value soon the difference between having Bitcoin and not having any Bitcoin will be too small to import.
However, facts have ended up contradicting Peter Schiff, now that BTC is at $ 17,719 as of this writing. Going through the biggest bull rally in recent years, and increasing in value by 375% since Schiff predicted his death in mid-March.
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