Peter Brandt. Peter Schiff. It seems that all the Peters don't like Bitcoin. Haha.
But I have always felt that what they had been saying was worth listening to. Bitcoin (and all Cryptocurrencies) are driven by sentiments. Greed in particular. When the feeling turns and fear replaces greed, the bottom is hard to call.
So Peter Brandt says $58k is in sight. Barely 3 months ago, he would have been ridiculed as a fool. Now, the same people are calling him a prophet.
As for the other Peter. He is a champion of Silver. So silver took a major plunge last Friday. And one could also say that Peter Schiff is also a fool for calling for silver.
But in context you have to note that silver had recently ran up from $30 to $105. So for silver to correct in a bear market to $75 should not be that surprising. Especially when it was just two weeks ago it this was the price of silver.
Bitcoin on the other hand had been "correcting" since October when it was at the high of $126k. A correction of this much for so long is not a correction. It's a collapse.
Oh, another thing Peter Schiff called was for Michael Saylor's MRTC to become bankrupt. This may very well happen soon.
Friday MRTC went from $139 to close at around $150 when the whole market and metals and cryptocurrencies was crashing.
This suggest to me someone was propping up MRTS share prices. This may have been Michael Saylor's final thrown of the dice.
Why do I say last throw? Because he was not buying Bitcoin over the weekend. With such low volumes, he could have easily propped up Bitcoin. He may be out of funds. Maybe even have raided the $2 billion cash held for dividend payments....
But all these are just my own guessings. Not a financial advice.
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