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One of the biggest haters of Bitcoin is a guy named Peter Schiff. This man never misses a chance to throw punches at Bitcoin.
On one show he told the host he's going to stick around longer than Bitcoin and Peter Schiff is 62 years. With as much passion as Micheal Saylor speaks on behalf of Bitcoin, Peter Schiff uses the exact same passion to speak against Bitcoin.
His recent strategy against the image of Bitcoin is to use Microstrategy's reduced stocks and Bitcoin valuation to create doubt in the minds and hearts of crypto investors.
You know sometimes I'm tempted to assume guys like that are paid by some rich groups to create FOMO or doubt so they could control the market. The reason is that, if you think Bitcoin is so bad and you see that many people using it and being loyal to it, why fight them with this much anger and passion?
Why not just talk about the value of gold and drop the mic, why shit on crypto? The agenda could be to get more people influenced to invest in a stock they have plenty of so it can rise and then they dump. What do you think about this reason guys?
Literally, this guy has been waiting for years to see the end of Bitcoin but after all those years, Bitcoin is more popular and compared to it years ago, it's stronger than ever.
We've watched Bitcoin and crypto itself defy all expectations in the past and I see no reason why that won't happen in the near future. Yes we're still in the bear season but the word season means it's not forever.
MicroStrategy took a hit in the stock market, dropping 11% and Schiff wants to take that as an opportunity to really speak against them.
The question is, how many people are loyal enough to hold Bitcoin all the way down to zero.
Here's my opinion about that question from Schiff; this is bullshit, lol.
Honestly, it's been the same old story for way too long. We enter a bear season or get a serious dip and the critics start acting like Bitcoin is on the edge of its final extinction. Give it time and it rebounds.
Sometimes bears seasons can take so long that it looks like the coin will never rise and yes perhaps it won't rise instantly or smoothly but history speaks for itself.
The reason they'll get people to believe what they say against Bitcoin is that the market isn’t exactly screaming confidence right now. Trading volume is down 45%, and that’s not great at all because low trade volume can mean disinterest but it can also mean people are just holding tight.
With Bitcoin, it's just clear if you'll be honest, that low trading volume is because everyone has become a hodler but critics will take advantage of less trade to lie to the inexperienced ones.
If you're in doubt, just know that Bitcoin has been through worse cases. It has seen crashes that should have wiped it out, yet it keeps coming back up. Not because it’s invincible but because enough people believe in it.
They are not blindly holding on, they’re making a bet that the world is shifting to the side of cryptocurrency with Bitcoin as King of money or the new digital gold.
Maybe they could be wrong. Maybe Schiff is right, but history is telling you to hold on tight. For now, just allow the skeptics to talk. Bitcoin doesn’t need their approval to keep moving and you shouldn't either.