Peter Schiff Claims that Bitcoin's Recent Rally Was Manipulation

2 min reading

Bitcoin's famous critic, Peter Schiff, has once again led the punch towards BTC. He said that Bitcoin's last rally from $9100 to $9600 was manipulation.

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Peter Schiff vs Tyler Winklevoss

Peter Schiff responded to the tweet of Gemini Exchange co-founder and CEO Tyler Winklevoss. Winklevoss wrote that Bitcoin opposed the disinformation published by Goldman Sachs, who advised against investing in BTC and crypto.

Day after Goldman Sachs says don't buy bitcoin, bitcoin is up +$500.  

Peter Schiff wrote in response that Bitcoin is a financial pyramid that has run out of "fools' supply".  He added that whales like Schiff manipulate the price, trying to reduce the impact of bad news on the market. You can see the whole conversation below:

In response, Tyler Winklevoss sarcastically stated that the "supply of fools" will not end as long as people like Peter Schiff are around.

Both investors have the same enemies

Peter Schiff and Tyler Winklevoss believe in two different assets: Gold and Bitcoin (BTC). However, despite their differences, both men on many occasions expressed their contempt for the Fed, which is constantly printing US dollars to counterbalance the economic impact of the pandemic. Peter Schiff, on Tuesday, advised investors to invest in gold and silver because the Fed has unlimited possibilities to print money. He wrote on his tweeter:

Tyler Winklevoss told the investors to beware of the central banks printing money. He recently issued a statement criticizing the Bank of England for considering negative interest rates. On the tweeter he wrote that this would make keeping money "under the mattress" more attractive than in the bank. Adding #Bitcoin at the end, he stressed that Bitcoin is the best protection against such a situation.