Peter Schiff Predicts Bitcoin Price Collapse Amidst ETF Surge Speculation

• The only reason Bitcoin’s price has risen so sharply is to lure ETF investors as per Schiff.
• At the time of writing, Bitcoin is trading at $71,673, up 3.37% in the last 24 hours.

Remarkably, prominent crypto skeptic Peter Schiff recently posted on X, claiming that the current price surge in Bitcoin is an attempt to attract ETF investors, predicting that the bounce would be short-lived and that the price of BTC will soon collapse.

Investors are worried about the overall volatility of the crypto sector after this critic’s comment and Bitcoin’s recent price surge. In response to gold’s recent surge to fresh record highs, the crypto critic claims that Bitcoin had a pump overnight.

As far as Peter Schiff is concerned, the only reason Bitcoin’s price has risen so sharply is to lure ETF investors into purchasing the market at artificially high prices. “Get ready for the dump,” the Bitcoin naysayer warned, predicting that the price of bitcoin would soon fall. The crypto market has been under Schiff’s scrutinizing eye for some time now, despite the fact that this comment scared off investors.

Bitcoin’s Upward Price Trend

In particular, the critic brought out the fact that young people tend to choose Bitcoin over gold as an investment choice due to the fact that Bitcoin is expected to see greater growth in its relatively short lifespan, a sentiment shared by many in the worldwide crypto community.

However, as of this writing, the critic’s comment was met with a positive victory in the market by Bitcoin’s upward price trend and on-chain statistics.

At the time of writing, Bitcoin is trading at $71,673, up 3.37% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 65.92%. Investors are expecting prices to rally ahead of the impending halving event.

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