Bitcoin holders ‘will regret not selling above $60K,’ Peter Schiff warns
Peter Schiff, a well-known Bitcoin critic, warns that Bitcoin holders will regret not selling above $60,000, predicting potential heavy losses. He states he would not buy BTC even at a 3x price drop to $20K, calling it "way too much to pay for nothing." The article notes Bitcoin's recent 11% bounce in July to near $65K, driven by softer CPI data, but analysts express caution. They point to fragile macro conditions, including U.S.-Iran tensions, a lack of Bitcoin-specific demand (with ETF outflows and negative Coinbase premium), and stalled regulatory progress like the CLARITY Act. Analysts from Bitfinex and QCP Capital describe the rally as "borrowed strength" without solid institutional support. QCP's base case projects a range-bound BTC between $60K and $75K, with key resistance at $65K-$67K and the 200-day MA ($73.4K). A break below support could see a dip to $55K-$58K. The overall view is cautious, citing misalignment of macro, regulatory, and ETF demand factors for sustained bullish momentum.
ambcrypto07/16 08:47