Free Bitcoin 2020

Image
Free Bitcoin 2020 Earn Free Bitcoin Daily in Internet 2020 Learn different ways to earn Bitcoins by completing simple tasks, Captcha’s and sell your Bitcoins for real money. Free Bitcoin 2020 What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency. Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets. Bitcoins in its pure essence is money. It is digital curren

Peter Schiff Admits Bitcoin Could Reach $100K After BTC Price Soars Past His Expectations

Peter Schiff Admits Bitcoin Could Reach $100K After BTC Price Soars Past His Expectations

Gold bug Peter Schiff has revised his bitcoin prediction after the price of the cryptocurrency exceeded his expectations, reaching an all-time high above the $50K level. He now says, “I must admit that a move up to $100,000 can’t be ruled out.” Nonetheless, the long-term bitcoin skeptic warns that the price can also drop to zero and one should buy gold instead.

Peter Schiff Now Predicts Bitcoin Can Reach $100K

Euro Pacific Capital CEO and host of the Schiff Radio show, Peter Schiff, was mocked by the bitcoin community on Tuesday after the price of bitcoin crossed the $50K mark. The gold bug thought leader had predicted and emphasized repeatedly that bitcoin’s price would never reach that level.

After he was proven wrong on Tuesday, Schiff revised his stance, tweeting:

Now that bitcoin has hit $50,000 I must admit that a move up to $100,000 can’t be ruled out.

Nonetheless, he warned: “A move down to zero can’t be ruled out either. While a temporary move up to $100K is possible, a permanent move down to zero is inevitable.” Schiff proceeded to recommend: “If you don’t want to gamble buy gold.”

The quintessential bitcoin skeptic elaborated: “A financial asset is in a bubble when its price has no relationship to its underlying present value or a reasonable expectation of its future value, and investor conviction in price appreciation is high and fear of loss is low. At $50K bitcoin is the biggest bubble of them all.”

Schiff had been saying since 2019 that the price of bitcoin would never reach $50K. However, he insisted on Tuesday that he was “not wrong” about his prediction, claiming that he only said that “it was highly unlikely.” He tweeted explaining: “I never said it was impossible. Sometimes things that are unlikely to happen, happen.”

However, many users on Twitter accused Schiff of lying, reposting his 2019 tweet as evidence that he did say bitcoin’s price would never get up to $50K. “From the guy who had a $50,000 price target on bitcoin for the year end 2018. My gold forecast came alot closer than your bitcoin forecast. Plus at least gold will eventually hit 5K. Bitcoin will never hit 50K,” Schiff wrote on Aug. 21, 2019.

Peter Schiff Admits Bitcoin Could Reach $100K After BTC Price Soars Past His Expectations

His son, Spencer Schiff, chimed in and commented on his dad’s 2019 tweet: “Yeah you’d have to be nuts to think bitcoin will ever hit 50K.” Spencer then presumed that Peter Schiff’s next tweet about bitcoin’s price might be:

Future tweet: ‘Now that bitcoin has hit $500,000 I must admit that a move up to $1,000,000 can’t be ruled out. However…’

The $50K bitcoin price has long been the subject of debate between Schiff and Max Keiser, a popular television personality and bitcoin proponent. Keiser has publicly said many times that bitcoin’s price hitting $50K will “trigger” Peter Schiff to panic buy the cryptocurrency. Peter Schiff has so far rejected the notion.

What do you think about Peter Schiff’s bitcoin prediction? Let us know in the comments section below.



from Bitcoin News

Hot News

Free Bitcoin 2020

Defcon Speaker Discusses Liberating $300K Worth of Bitcoin From an Encrypted File