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HomeCryptoPeter Schiff Insists This Is Not 'Crypto Winter', Rather 'Crypto Extinction'

Peter Schiff Insists This Is Not ‘Crypto Winter’, Rather ‘Crypto Extinction’

Now that FTX has collapsed, Schiff has redoubled his faith, and he hasn’t wasted an opportunity to pounce on bitcoin in the chaos. On Monday, Schiff said on Twitter that it is currently “nor a crypto winter“not one either”crypto ice age“, because it implies an impending thaw. Schiff insists that the price of bitcoin will not rise and that this time he thinks we will see a “crypto extinction“.

Peter Schiff expects a cryptocurrency extinction rather than a cryptocurrency winter thaw.

Peter Schiff has been criticizing crypto these days since the collapse of FTX last week. Peter Schiff said on Monday that he will be giving a presentation at the Dubai Precious Metals Conference (DPMC) on 21-22. November.

Last year, the keynote address was given by Michael Saylor“, Schiff said in one tweet. “He told the public to sell all their gold and buy bitcoins. On the day he spoke, bitcoin was trading above $60K, while gold was trading close to $1850. Since then, gold has fallen by 4% and bitcoin by 73%.

The DPMC Calendar website states that “the financial expert and author will discuss the end of dollar hegemony, the demise of bitcoin and the global remonetization of gold.Before revealing his involvement in DPMC, Peter Schiff criticized Super Bowl champion Tom Brady’s affiliation with FTX.

With bitcoin so far below the $100,000 target, I think it’s time for the rest of you to follow Tom Brady and get the laser beams out of the eyes of your Twitter profiles. Tom Brady wouldn’t be the GOAT if he didn’t learn from his mistake,Peter Schiff said

Peter Schiff has added that the crypto economy was the first to go down since the US Federal Reserve began the quantitative tightening cycle. According to Schiff, cryptocurrencies are just “the weakest link in the risk chain, with the greatest leverage and least real value.

Peter Schiff insisted that now that the chain has a broken link, “the chain is weaker and more likely to fail.” Schiff also recently noted that he disagreed with Shark Tank star Kevin O’Leary, aka Mr. Wonderful when O’Leary said he “flew to Washington” because he wants crypto regulation now.

I disagree with [Kevin O’Leary],“Ship responded to in response to O’Leary’s statements. “More government regulation is not the solution. The lesson from the FTX case is that investors need to do better due diligence and not foolishly engage in speculative trading. Also, we need sound money with interest rates set by free markets, not central banks.

Peter Schiff believes the cryptocurrency rally will never be repeated – the bitcoin craze is over.

On the anniversary of bitcoin’s record price five days ago, Peter Schiff have noticed than the entire crypto rally of the last year”was a fraud“. The gold digger further pointed out that the cryptocurrency rally “will never repeat itself – bitcoin mania is over.On Monday, Schiff talked about the crypto winter, telling his 866,700 Twitter followers that the current crypto slump is not a crypto winter.

This is not a crypto winterPeter Schiff said. He then writing. “This means that spring is on its way. Nor is it a crypto ice age, as even that ended after a few million years. It is an extinction of cryptocurrency. But blockchain will live on. Gold will rise to lead a new breed of asset-backed cryptos“.

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