Peter Schiff doubts BTC investors will ‘hodl’ after ‘long weekend’
Economist and cryptocurrency critic Peter Schiff recently shared his views on the recent introduction of Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. market. Schiff’s remarks came as the Bitcoin price nosedived shortly after the launch of 11 Bitcoin ETFs, wiping out most of the gains of 2024. The media personality’s perspective, shared on his social media account on Jan. 13, suggests that the initial investors of these ETFs may be ruining their decisions. Bitcoin has already fallen from just above $49K yesterday, to just below $42K today. That's over a 14% decline. It could be a long weekend for #Bitcoin bulls. If the new #BitcoinETFs gap way down on Monday it will be interesting to see how investors react. I doubt they'll #HODL. — Peter Schiff (@PeterSchiff) January 12, 2024 The Bitcoin price plunge, dropping from $49,000 to below $42,000 in less than 24 hours, resulted in a swift double-digit decline for its holders. The price dip, acco...