Economist Peter Schiff has told bitcoin investors to sell off their holdings. Schiff continues to staunchly oppose the cryptocurrency which he believes holds no intrinsic value. His most recent advice to investors comes right on Christmas Day when the festivities have pulled the market into a lull.
Time To Sell Bitcoin
Taking to Twitter, Peter Schiff posted what he called his “Christmas gift” to bitcoin investors. The post followed the usual trend of bashing BTC, with a chart that he used to support his claim. The chart which shows the trend of the digital asset over the last six months pointed out that a support level had been turned into resistance.
Schiff said the chart shows that “bitcoin is much closer to its ceiling than it is to its floor.” As such, he believes that there is little to no potential for the digital asset to make a recovery. Instead, he expects a decline and has advised investors to sell as it is the “Smart move.”
My #Christmas gift to #HODLers is this
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