U.Today – Recently, well-known critic Peter Schiff revealed a surprising fact on X. Although Schiff has always been a skeptic, he stressed that many smart people “analyzed” Bitcoin and some decided not to own it. More than 90% of the nearly 14,000 participants in a recent survey he conducted said they would not sell any of their Bitcoins even if the price fell by 96% and hit $3,000 or even $120.
Schiff appears to acknowledge, in a critical tone, the strong conviction and perseverance found within the Bitcoin community, as highlighted by his responses. Schiff remains unequivocally skeptical of Bitcoin.
Many people have studied Bitcoin closely, including Schiff, and have come to the conclusion that it does not live up to their standards or expectations as a profitable investment. The positive and optimistic attitude that is typical among Bitcoin enthusiasts and investors is in stark contrast to this view.
Bitcoin has proven remarkably resilient in the face of numerous regulatory hurdles and market fluctuations. The current price of Bitcoin, which has recovered from previous lows, is roughly $68,000. The market reaction to Bitcoin has been mixed: while some like Schiff believe it will remain viable in the long term, others see it as a digital goldmine and hedge against inflation.
Bitcoin is performing well technically at the moment. As the price moves above significant moving averages, the chart shows an uptrend. Support comes from the 50-day EMA, and recent price action points to a potential rise if the current momentum holds.
Moreover, the RSI is within a healthy range, suggesting that the asset is not overbought. Even with Schiff’s critical stance, there is strong confidence in the future of cryptocurrencies, as evidenced by the survey results and the state of the Bitcoin market.
This article was originally published on U.Today
