Bitcoin Sell-Off Warning: Economist’s Dire Prediction Meets Crypto Reality Check

Another day, another economist telling crypto investors what to do—this time with a dramatic 'sell everything' decree. But before you panic-sell your Satoshis, let's break down whether this advice holds water.

Market veterans know these doom-and-gloom proclamations often say more about traditional finance's insecurity than crypto's actual trajectory. The real question isn't whether to sell, but whether you want to take financial advice from someone who probably still thinks blockchain is a type of bike lock.

Meanwhile, Bitcoin's network hash rate just hit another all-time high—not exactly the behavior of an asset in its death throes. But what do miners know compared to a tenured professor with Bloomberg terminal access?

Economist Warns People To Sell Their Bitcoin

Renowned economist and a staunch anti-BTC proponent, Peter Schiff, has once again delivered new advice related to Bitcoin. Per Schiff, bitcoin at $100K is a novelty opportunity to sell, with Schiff hinting at how he thinks Bitcoin has more to lose in the near future. In a brief X tweet, Schiff shared how Bitcoin has more downside attached to the asset, where it may tumble below $100K. Hence, users should liquidate now to stay ahead of the curve.

$100K Bitcoin is an incredible opportunity that must not be missed. In fact, the opportunity may never come again in our lifetimes. That’s why it’s so important to take advantage of it while you can. If you own Bitcoin, hurry and sell it now, while the price is still above $100K.

This is not the first time Schiff has shared his anti-Bitcoin opinions publicly. The economist is known to often express his stark Bitcoin views, adding how the asset is practically invaluable in the present course of life.

If you owned all the Bitcoin in the WOULD what could you do with it? What would it be worth? Bitcoin doesn't have any where close to the value of gold. To claim it's even more valuable is ridiculous.

Is Schiff Right?

While Schiff believes Bitcoin is prone to frequent crashes/volatility and lacks value, CoinCodex stats suggest a different story altogether. Per CC, Bitcoin is predicted to hit as low as $80K by 2026; however, it’s expected to pick up pace soon after, hitting $245K by 2030.