The chief market strategist of Euro Pacific Asset Management called the crypto market a bubble and urged investors to sell their digital assets.
Bitcoin will no longer return to the historical maximum of $69 thousand, the price of cryptocurrency will collapse below $ 10 000, Peter Schiff, chief market strategist at Euro Pacific Asset Management, is sure. In an interview he called the digital asset a "big fool scheme" that will inevitably fail.
"The market will fall. I think people should take advantage of the rally they have right now and leave. Many people still have profits in these tokens. They have to leave, because otherwise the market will take this profit," Schiff warned.
Peter Schiff is one of the most famous critics of the first cryptocurrency. In 2011, when BTC was worth about $1, he said that he would prefer to invest $10 thousand in gold rather than bitcoin, since it is unknown what will happen to it in a few years. Since then, the first cryptocurrency has risen in price by 2.3 million percent.