Peter Schiff can't escape bitcoin By U.Today

U.Today – Everyone knows that Peter Schiff is not the biggest fan of BTC, at least in the public space. However, even the biggest BTC critic doesn’t miss the opportunity to share a good laugh about it.

Recently, Schiff visited Istanbul and posted a photo in front of a large Bitcoin advertisement. He shared the image on Twitter with the caption: “I'm in Istanbul and look what I found. There are some things you just can't escape.” The image quickly attracted attention with over 200,000 views in just a few hours.

Peter Schiff, a staunch gold miner, has long expressed doubts about Bitcoin and other cryptocurrencies. He often accuses Bitcoin of being worthless and extremely volatile, making it an unreliable store of value.

Globally, Bitcoin is becoming increasingly popular and accepted. Not to mention, Turkey is one of the most Bitcoin-adopting countries with millions of holders and users. The past few days we have seen great stability in the performance of the Bitcoin market. Promising news, as Bitcoin has recently started to break through the $58,000 mark. This surge follows a period of significant price volatility during which they ranged between $56,000 and $60,000.

Even though the current momentum indicates that Bitcoin could be primed for another surge, market sentiment remains cautious. Technically, Bitcoin has broken above the 200-day EMA, a crucial resistance level that traders are keeping a close eye on.

In the event that buying pressure increases, this breakout could signal a potential bullish trend. Many people believe that Schiff secretly loves Bitcoin due to his complex relationships with the cryptocurrency. Regardless of his feelings, Bitcoin is more likely to hold than not and critics like Schiff have been wrong about this in the past. This has been proven by the growth of the market over time.

This article was originally published on U.Today

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