“Smart Investors” Are Selling Bitcoin, According to Top Economist
Economist Peter Schiff, known for his skepticism towards Bitcoin (BTC), recently raised concerns about ETF investors facing potential losses.
In a recent statement , Schiff highlighted that while institutional investors are selling Bitcoin in the spot market, retail investors are purchasing it through ETFs.
He sarcastically credited Bitcoin whales for positioning ETF investors as potential “bag holders,” a term referring to those left with declining assets.
Schiff’s remarks follow ongoing market stress, compounded by potential large sell-offs from Mt. Gox.
READ MORE:
Bitcoin Whales Buy the Dip, Signaling Potential Bullish MomentumHe previously noted significant losses among Bitcoin ETF buyers, foreseeing more challenges if Bitcoin falls below $38,000.
Despite recent market downturns, US-listed spot Bitcoin ETFs reported significant inflows , indicating a potential rebound amid Schiff’s predictions of continued bearish sentiment for Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Aster announces a $10 million trading competition, combined with Stage 4 airdrop and Rocket Launch incentives, driving multi-layered growth in platform depth and liquidity.
After achieving strong performance in Stage 3, Stage 4 (Harvest) airdrop plan was launched, and the “Double Harvest” trading competition with a total reward of 10 million USD will be introduced on November 17.
Mars Morning News | Federal Reserve officials send strong hawkish signals again, December rate cut in doubt
The crypto market has generally declined, with bitcoin and ethereum prices falling and altcoins experiencing significant drops. Hawkish signals from the Federal Reserve have affected market sentiment, and multiple project tokens are about to be unlocked. Early ethereum investors have made substantial profits, and expectations for a continued gold bull market persist. Summary generated by Mars AI. The accuracy and completeness of this summary, generated by the Mars AI model, are still being iteratively improved.
IOTA collaborates on the ADAPT project: Building the future of digital trade in Africa together
IOTA is collaborating with the World Economic Forum and the Tony Blair Institute for Global Change on the ADAPT project. ADAPT is a pan-African digital trade initiative led by the African Continental Free Trade Area. Through digital public infrastructure, ADAPT connects identity, data, and finance to enable trusted, efficient, and inclusive trade across Africa.
Trending news
MoreCrypto prices
More
