Bitcoin’s ‘Party Is Over’: Why Peter Schiff Sees Bitcoin In A Bear Market

Prominent economist Peter Schiff expressed his views on the current state of Bitcoin (CRYPTO: BTC), stating that despite the hype surrounding spot Bitcoin ETFs, the crypto king is in a bear market.

What Happened: In a Thursday post on X, Schiff compared Bitcoin’s performance to gold, saying “Despite all the hype around the BitcoinETFs, Bitcoin is clearly in a bear market. It’s down 23% in dollars, but 33% priced in gold, with one Bitcoin now worth fewer than 25 ounces.” He further added, “Turn out the lights HODLers, the party is over.”

The tweet comes on the heels of his technical analysis, pointing out that Bitcoin’s previous support level of $60,000 now acts as resistance. The post was met with backlash from the crypto community, with heavily-followed trader Crypto Bitlord replying, “Yep, from $12 you’ve said it’s a sham. You called it Peter!”…Story continues…

By Khyathi Dalal

Source: Bitcoin’s ‘Party Is Over’: Why Peter Schiff Sees Bitcoin In A Bear Market

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Read more:

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Yesterday

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Wednesday

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Tuesday

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Bitcoin (BTC) News Today: MicroStrategy’s BTC Acquisition vs. Weak Earnings FX Empire 07:11 Tue, 30 Apr 

Monday

Top Crypto News Of The Day: Bitcoin Mining, Altcoins Boom and More CoinChapter 16:30 Mon, 29 Apr 

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Bitcoin (BTC) News Today: BTC-Spot ETFs Face Outflows in April Despite Halving FX Empire 07:06 Mon, 29 Apr 

Sunday

Bitcoin (BTC) News Today: BTC Holds Despite Spot ETF Trends and Fed Uncertainty FX Empire 09:04 Sun, 28 Apr 

Saturday

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In the last month

Bitcoin (BTC) News Today: Analyzing BTC-Spot ETF Flows Amid US Economic Reports FX Empire 07:46 Fri, 26 Apr 

Bitcoin Inches Higher on Mildly Positive Economic News FX Leaders 16:34 Tue, 23 Apr 

Bitcoin News: Whale Scoops 500 BTC Worth $33M, BTC Price Eyeing $70K CoinGape 16:32 Tue, 23 Apr 

Top 5 Crypto News Of The Day: Bitcoin Fees, Ether ETF, And More CoinChapter 15:57 Mon, 22 Apr 

Crypto Pundit Says Bitcoin Halving Is A ‘Buy The News’ Event Bitcoinist.com 18:37 Sun, 21 Apr 

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Top Crypto News Of The Day: Tether, Bitcoin Halving, and More CoinChapter 14:19 Sat, 20 Apr 

Is Bitcoin’s halving a ‘sell the news event that is already priced in?’ AMBCrypto 06:31 Sat, 20 Apr 

Bitwise CIO: Bitcoin halving is ‘buy the news’ event crypto.news 00:05 Sat, 20 Apr 

Bitcoin Risks Another ‘Sell-the-News’ Market Move After Halving BNN Bloomberg 21:18 Fri, 19 Apr 

Bitcoin Halving Might Trigger A ‘Sell The News Event’:Here’s How BTC Price Could React Coinpedia 21:01 Fri, 19 Apr 

Bitcoin Halving 2024: ‘I Think This Is a Buy-the-News Event if You Pan Out Long Term’, Says Bitwise CIO CryptoGlobe 17:09 Fri, 19 Apr 

Bitcoin Halving News LIVE Updates: BTC Price Rebounds To $65K, Less Than 100 Blocks Until Halving CoinGape 15:56 Fri, 19 Apr 

Bitcoin Halving News LIVE Updates: BTC Price Rebounds To $65K, Ignites Frenzy As Halving Nears CoinGape 15:36 Fri, 19 Apr 

Bitcoin halvening: what is Bitcoin mining, price, when is Bitcoin halving day – latest crypto news National World 14:29 Fri, 19 Apr 

Bitcoin Halving: Goldman Sachs Minimizes Expectations Around ‘Buy the Rumor, Sell the News’ Effect FX Leaders 12:38 Fri, 19 Apr 

Bitcoin Halving: Goldman Sachs Downplays Impact of ‘Buy the Rumor, Sell the News’ Bitcoin.com 02:53 Fri, 19 Apr 

Bitwise: Bitcoin Halving Is a ‘Sell the News’ Event, Market Underestimates Long-Term Impact Bitcoin.com 02:03 Fri, 19 Apr 

Goldman Sachs On Bitcoin Halving: ‘It doesn’t Matter If It’s A Buy The Rumor, Sell The News Event’ News BTC 23:23 Thu, 18 Apr 

Is the Bitcoin Halving a ‘Buy the Rumor, Sell the News’ Moment? Community Weighs In Coinpedia 14:15 Thu, 18 Apr 

A Look at How Bitcoin’s Halving Might Trigger ‘Sell the News’ or ‘Sell the Rumor’ Reactions Bitcoin.com 10:09 Thu, 18 Apr 

Bitcoin halving could be ‘buy the rumor, sell the news’ event, crypto payments company CEO says The Block 18:07 Wed, 17 Apr 

Bitcoin and Ethereum ETFs Approved in Hong Kong, Germany’s Major Federal Bank Embraces Crypto for Institutional Players: Crypto News Digest by U.TodayU.Today 18:51 Tue, 16 Apr 

Crypto.com CEO: As We Approach Bitcoin Halving 2024, We Could See Some ‘Sell-the-News’ Sales CryptoGlobe 12:46 Tue, 16

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