Peter Schiff comments on his bad bitcoin advice and talks about $100,000 for BTC

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Gamza Khanzadaev

Peter Schiff seems to have softened his stance on Bitcoin at $100,000 as it is now only unlikely but not impossible

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Renowned economist and equally well-known cryptocurrency critic Peter Schiff commented on his bad predictions for Bitcoin. He said what could be worse than giving advice to sell BTC ahead of its 30% rally would only be to participate in that same rally and then crash to even lower levels.

Schiff’s comment refers to the events of the past few weeks, when after his extremely bearish outlook and calls to sell Bitcoin, he rose 37.2% in value. However, readers reminded the Economist that he said the same thing in late 2018, when BTC was trading below $4,000 per coin.

I probably won’t tell them Bitcoin $100,000 because Bitcoin is unlikely to ever trade that high.

Peter Schiff (@PeterSchiff) January 24, 2023

However, when talking about Bitcoin at $100,000, Peter Schiff seems to have softened his stance. While the economist previously argued that it was impossible, his opinion on the matter now contains the wording “unlikely”. It’s likely that Schiff hasn’t fundamentally changed his position, but his view of the strength of the market and its participants has certainly wavered.

Bitcoin (BTC) price

As the “old man shouts Bitcoin,” he in turn continues to test resistance at the $23,100 level. Crypto enthusiasts are closely watching price developments in the region, split into two camps, with some expecting a correction and others expecting a breakout and entry into a new price range.

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