Peter Schiff Urges Bitcoin Buying as BTC Price Eyes Breakout
The post Peter Schiff Urges Bitcoin Buying as BTC Price Eyes Breakout appeared on BitcoinEthereumNews.com.
Key Insights: BTC price recovers as Peter Schiff urges selling Ethereum to buy Bitcoin. Analysts predict massive breakout in ETH price to $10k ahead. Market experts see more upside more Bitcoin price, potentially to $150k. BTC price has recorded a robust rally over the past few weeks, hitting a new all-time high $123,091. Amid this, renowned economist and financial commentator Peter Schiff has gained notable traction with his unexpected comment on BTC. Notably, Schiff is known for his long anti-crypto Bitcoin stance, and has continued to stay bearish on the flagship crypto. However, in a recent X post, the economist has urged investors to bet on Bitcoin, sparking market discussions. Besides, Schiff also said that the investors should shift their bets to BTC instead of altcoins, specifically Ethereum. This has fueled market speculations, especially as analysts projected bold forecasts for the flagship crypto. On the other hand, Ethereum price has continued to outpace BTC over the past few weeks. Having said that, more retail traders as well as corporations are flocking to scoop ETH. Peter Schiff Backs Bitcoin Over Ethereum, Here’s Why Renowned Bitcoin critic Peter Schiff has urged crypto investors to consider selling their Ethereum (ETH) holdings to buy Bitcoin (BTC). In a recent X post, Schiff said that “Ether” is nearing the upper end of its trading range, making it “a great time to sell.” In addition, Schiff advised traders to dump Ethereum and use the proceeds to buy Bitcoin. However, he admitted that it “pains” him to make such a recommendation. Why Bitcoin is Better Than ETH? Peter Schiff Reveals When questioned why Bitcoin is a better choice than ETH, Peter Schiff clarified that his reasoning isn’t based on fundamentals but on charts. He believes Ethereum has “more acknowledged competition for the narrative of its use case”…
