© Reuters
Investing.com – Famous American investor and stock market commentator Peter Schiff, who was among those who foresaw the 2008 financial crisis, confirmed his strongly negative view of the stock market yesterday.
Sharing a long-term Bitcoin chart in a tweet posted last night, he remarked on how a break below the $30,000 threshold would give the chart a bearish profile.
He indeed mentioned a target at $10,000 in this case, and even estimated that the “real” floor on Bitcoin is at zero:
“A drop to $10K would appear to be a lock, but there is no reason to believe this level would hold as a permanent bottom. If this double top completes, the true floor is zero! »
Unsurprisingly, this tweet immediately elicited reactions from Bitcoin fans. One of them particularly criticized the fact that Peter Schiff likes gold as an investment and a store of value, to which Schiff replied:
“Gold is a store of value because when you store gold, you are storing the most useful metal on the periodic table. There will always be a demand for gold. What value has #Bitcoin that can be stored? Bitcoin is not used for anything today. Why would it be used for anything in the future? »
In the meantime, it has been rising since yesterday, currently at $43,500, after spending Monday hovering around $42,500. The rises for its part above the major psychological threshold of $3,000.
Most of the other cryptocurrencies are also in the green, with the biggest increases in the top being shown by and , with a gain of more than 10% for each of these cryptocurrencies.
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