Economist Peter Schiff told Bitcoin investors to sell their Bitcoin holdings. Schiff once again would never allow cryptocurrency, which in his view has no real value. The recent comments to investors happened to be made at Christmas, when the celebration had dragged the sales market into tranquility.

Now is the time to sell Bitcoin

On Twitter, John Schiff announced what he referred to as the "Christmas gift" to Bitcoin investors. This article follows the consistent development trend of criticizing BTC, which uses a data chart to support its own point of view. The data chart showing the digital currency market in the past six months emphasizes that the support level has turned into friction resistance.

Schiff indicated that the chart shows that "Bitcoin is closer to its limit than to its lower limit." Therefore, in his view, digital currency has almost no recovery potential. On the contrary, he predicted that there would be a decline, and proposed that investors sell, because that was the "wisest choice"

As expected, Schiff's tweets were curbed by BTC investors. One of the most popular comments under this post is a customer who pointed out that the economist told us that selling is "the key buying signal sent by John Schiff"

Another customer posted a screenshot of Schiff's 2018 tweet, warning that it was a bad idea to buy Bitcoin for $3800. Three years after that tweet was released, BTC is expected to break through a record high of $69000, more than 15 times the price Schiff warned investors not to buy it.

Schiff on Login Password Control

In another tweet, Schiff mentioned that at this stage, the regulatory climate of data encryption is closely around. Since the collapse of FTX, the government has been making great efforts to regulate the field of data encryption so that investors have a high safety factor. But the economist felt that all this was futile. Schiff again requires investors to sell cryptocurrencies, because that is the only way to keep security.

"Many people claim that government departments must regulate # crypto, so that we can believe that our money is very safe. The government departments can't make the project investment cryptocurrency more and more secure. The only way to use cryptocurrency is to sell it. But it can pass on your losses to others."

However, some people call for appropriate regulation of cryptocurrencies. Jon Cunlife, a warehouse keeper of the Bank of England (BoE), told Sky News last week that the collapse of FTX showed that cryptocurrency was "very dangerous" and could no longer be supervised. However, economist Stephen Cherdity believes that legalizing cryptocurrency under supervision will have a negative impact on the financial system.