Bitcoin skeptics woke up and comment on the fall of crypto

by in Cryptocurrency News

Bitcoin

Yesterday's drop in the value of bitcoin was commented on by many experts, including skeptics and outright enemies of the largest cryptocurrency.

Financier Peter Schiff was one of the first to react to the weakening bitcoin rate. On Twitter, he recalled that last Friday, BTC reached $ 42,000, and on Monday, it fell to $ 30,000. That once again proves the fact that Bitcoin cannot be considered as a store of capital.

Schiff emphasized: "An asset that fell 28% over the weekend is not a haven, store of value, or inflation hedge."

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This time the financier did not urge investors to refuse to buy BTC but noted that the best way to preserve their capital is to purchase gold. Schiff made similar statements earlier. And he also periodically called the cryptocurrency a "bubble" which will soon become part of history.

Billionaire Mark Cuban is also skeptical about Bitcoin. He recently stated that the crypto sphere resembles the dot-com bubble of the early 2000s.

However, unlike Schiff, Cuban admits that some digital currencies will indeed survive the crisis and enter a new era as innovation giants. For example, such giants as AMZN, eBay, and Priceline emerged from the dot-com bubble.