Peter Schiff Predictions
Introduction
Peter Schiff is a renowned investor, author, media commentator and host of the popular podcast “The Peter Schiff Show.” He has long been an outspoken critic of traditional investment practices and often makes bold predictions about the future of various markets – including cryptocurrency. In this article we will look at some of his predictions regarding crypto assets over the years.
Background on Peter Schiff
Peter Schiff first gained mainstream attention in 2007 when he correctly predicted the Global Financial Crisis (GFC) that occurred later that year. His strong views on gold as well as his criticism of government monetary policy have earned him a dedicated following amongst those who are skeptical about traditional financial systems. As cryptocurrencies began to emerge in 2009 with Bitcoin’s launch, he was quick to express his opinion on them and has continued to do so ever since.
Predictions About Cryptocurrency Prices
In 2013, one year after Bitcoin had hit its all-time high price of around $1,000 USD per coin, Peter predicted that it would drop back below $100 by 2014. Although this did not come to pass due to numerous market factors beyond his control such as increased demand from institutional investors and retail traders alike; it does demonstrate how quickly prices can change in cryptocurrency markets which should remind us all to be cautious when investing or trading these digital assets.
In 2018 during what many consider the peak of BTC’s bear market he also predicted that despite its lacklustre performance at the time it could still reach new highs within five years but only if governments allow for wider adoption by businesses and individuals alike – something which appears increasingly likely given recent developments across multiple jurisdictions worldwide such as Facebook Libra project approval from Swiss regulators earlier this year (2019).
Conclusion
Overall while no one can predict exactly where any asset class will go next; veteran analyst like Peter Schiff provide valuable insight into potential outcomes based upon their experience studying similar events throughout history combined with their understanding current economic conditions – especially when they appear critical or controversial compared to other opinions out there today suggesting otherwise e..g “Bitcoin is dead” etc… Therefore readers should always remain vigilant yet open minded when considering what investments decisions they make themselves moving forward!
