Renowned economist and cryptocurrency critic Peter Schiff has warned that Bitcoin (CRYPTO: BTC) will crash before BlackRock Inc.'s (NYSE:BLK) highly-anticipated spot Bitcoin exchange-traded fund (ETF) launch.
What Happened: Schiff shared his prediction on Friday, after looking at the results of a poll he conducted asking people when Bitcoin will crash.
"Based on the results my guess is that Bitcoin crashes before the ETF launch," Schiff said, adding that those who bought the rumor won't profit if they wait for the launch to sell their Bitcoin holdings.
Based on the results my guess is that Bitcoin crashes before the ETF launch. That why the people who bought the rumor won't actually profit ...