GOLD - Peter Schiff Says 'Things Will Likely Get Much Worse From Here' For Bitcoin Investors But 3 BTC Metrics Are Flashing Bullish Signals According To Expert | Benzinga
Economist and well-known Bitcoin (CRYPTO: BTC) critic Peter Schiff has issued a warning to investors, predicting a gloomy outlook. However, an investment expert has identified three bullish signals for the King Crypto.
What Happened: Schiff stated on Tuesday that Bitcoin investors who switched from gold ETFs to Bitcoin ETFs at the end of Q1 are now 20% worse off. He also warned that the situation is likely to deteriorate further.
At the close of Q2, gold posted a 4% gain, while Bitcoin, with two days left to trade, was down over 15%, Schiff said, underscoring a pessimistic view of Bitcoin’s future performance.
"The bad news for those investors is that it will likely get much worse from here."
#Gold closed Q2 with a 4% gain.