Bitcoin Supporter McCormack: Schiff Is 'Nasty' Human
Analysis
Price Impact
LowThis news reports on a public spat between a bitcoin supporter and a gold bug, peter schiff, who is reiterating his bearish stance after a recent price drop. it doesn't introduce new market-moving information, but rather highlights existing sentiment.
Trustworthiness
HighThe article accurately quotes the individuals involved and reports on their public statements, providing a factual account of their ongoing debate.
Price Direction
BearishWhile the news itself isn't a direct market mover, it heavily features peter schiff's bearish predictions of bitcoin's further collapse, emphasizing 'weak hands' selling and eroding political support. this reinforces a bearish sentiment for those exposed to his views.
Time Effect
LongSchiff's arguments about 'weak hands' and the erosion of political support are structural claims that imply a long-term deflation of what he considers a bubble, rather than an immediate, short-term price movement.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Bitcoin evangelist Peter McCormack has slammed gold bug Peter Schiff as a "nasty" human in his social media post. Advertisement "The thing that I despise most about Schiff is that he is a nasty human. So many people have worked so hard to save money and invest in their future and the future of their family," McCormack said following Schiff's most recent attack against Bitcoin. Earlier this week, Bitcoin experienced a dramatic price drop, briefly nose-diving below the $81,000 HOT Stories Cardano Founder Refutes Narrative About 'Vibe Coding' Halting Network Crypto Market Prediction: Worst Bitcoin (BTC) Candle in History? Will XRP Reach $1 Hard Reset? Ethereum Hiding Enormous Bullish Potential 'Rich Dad Poor Dad' Author Sells His BTC Holdings After Predicting $250K per Coin Bitcoin on the Verge of 30% Collapse Against Gold, Shiba Inu (SHIB) Burn Rate Jumps 23,864%, XRP Price Drops Below $2 Despite ETF Launch — Crypto News Digest Schiff's schadenfreude was glaringly obvious during the crash, with the gold bug not even trying to hide his glee on social media. Advertisement The financial commentator is busy reveling in Bitcoin's downfall, predicting that the leading cryptocurrency will manage to log a new record high only if there is a US government bailout. In his most recent social media post, which has prompted McCormack's response, Schiff now claims that the political incentive to back Bitcoin will not erode following the most recent price crash. "As the price drops, the whales will have less money to donate, and voters will be looking for someone to blame for their losses. Once political support is gone, the bubble will deflate even faster," Schiff said. Schiff has also predicted that Bitcoin's future sell-off will be even bigger, given that a significant portion of Bitcoin's supply is moving from strong hands to weak hands. More backlash Schiff is now facing more backlash following his anti-Bitcoin comments. "He has cost gold people who listened to him millions of dollars of lost profit. He shows zero shame for this," investment manager Lawrence Lepard said. Even though gold has vastly outperformed Bitcoin this year, it is still lagging behind the leading cryptocurrency on higher time frames. #Bitcoin News #Peter Schiff