Posted 1/17/2024, 7:23:42 AM
Schiff Forecasts Bitcoin Price Drop Amid Expected SEC Crypto Regulation Crackdown
- Peter Schiff predicts Bitcoin's price will fall sharply due to new crypto regulations from SEC's Gary Gensler
- Schiff believes Gensler was "backed into a corner" on approving Bitcoin spot ETFs and will now introduce strict new rules
- Schiff has doubted Bitcoin's utility before, saying it has no "real world utility" unlike gold
- Over $10 billion was traded in the first 3 days after new Bitcoin spot ETFs were introduced
- The Bitcoin spot ETF volume in 3 days exceeded the entire 2023 ETF freshman class' combined volume