Amidst ETF Surge Speculation, Peter Schiff Anticipates Imminent Bitcoin Price Plummet

Prominent critic of cryptocurrencies, Peter Schiff, has recently made a bold claim regarding the surge in Bitcoin’s price. According to Schiff, the sole purpose of this sharp increase is to entice ETF investors into the market. He believes that this rally will be short-lived and that the price of Bitcoin will soon collapse. Schiff’s comment has raised concerns among investors, who are already wary of the volatile nature of the crypto sector. The critic attributes Bitcoin’s overnight surge to the recent record highs seen in the gold market. However, his negative outlook on Bitcoin has not deterred the market, as the cryptocurrency continues to experience an upward price trend. This trend is supported by on-chain statistics, and at the time of writing, Bitcoin is trading at $71,673, marking a 3.37% increase in the last 24 hours. Additionally, the trading volume has surged by 65.92%. With the impending halving event, investors are anticipating further price rallies in the near future.