Peter Schiff calls Bitcoin’s move above $72,000 a false breakout

Peter Schiff, a longtime critic of Bitcoin, said the cryptocurrency’s move above $72,000 was a false breakout rather than a genuine rally. He said a U.S. Treasury buyback plan caught the market off guard. Bitcoin investors had long expected a return to accommodative monetary policy to drive sharp gains in gold and Bitcoin, but Schiff said that view was only half right. He recommended selling Bitcoin and buying gold.

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