Following last week’s bearish drag, today, the crypto space has slightly surged with the market cap climbing 0.97% over the last 24hrs. This is majorly due to Bitcoin, Ethereum, XRP, Cardano, and other altcoins signaling green.
At the moment, bitcoin is changing hands at $21,382 after a 0.40% increase over the past 24 hours.
Recently, CNBC had a positive discussion regarding Bitcoin’s future and this caught SchiffGold’s founder, Peter Schiff’s attention. It’s now a pattern that whenever there is a Bitcoin-related discussion by CNBC, Peter Schiff is likely to tweet about a Bitcoin bottom.
According to Shiffgold founder and crypto critic, large advertisers and industry supporters have paid for bitcoin mentions on CNBC. From their perspective they are saying some favors.
Schiff claimed that these mentions have been proposed by Bitcoin whales just to attract CNBC viewers toward crypto purchases and industry-related equities.
Bitcoin Price Drop?
It is also a popular pattern that whenever Peter Schiff mentions an upcoming decline for Bitcoin and Ethereum, the predictions turn out to be 100% true.
In June, the Bitcoin critic tweeted saying that the flagship currency would test $20,000 and Ethereum would plunge to around $1,200. On June 16, Peter posted another tweet claiming that his predictions turned out to be true as both the currencies were trading around the said target.
Nevertheless, on August 20, he pointed to two bearish bitcoin charts on Twitter, a double top and a head and shoulders reversal pattern. When both together form a reverse pattern, it is known as a rising wedge. He also mentioned that five days after his tweet, bitcoin was down by about 14%.
However, instead of heeding his prediction, traders criticized him for spreading FUD (Future Uncertainty Doubt) with his bearish prediction.
