Financier Peter Schiff predicted a decline in Bitcoin value after investor interest in crypto-ETFs weakens in mid-February.
He believes that the volatility of BTC will eventually lead to its inevitable collapse, as this does not suit most institutional traders. In response to the capital outflow from the ETF market, Schiff advised investors to exit the Bitcoin market as soon as possible.
He reiterated his criticism of the digital currency and suggested that investors switch to gold instead.
According to Schiff, gold is a more reliable asset that is not as prone to volatility as Bitcoin. Unlike the cryptocurrency which can experience sudden drops in value, the price of gold remains relatively stable, making it a safer option for investors.
