Peter Schiff warns users to sell their BTC, here's reason Bitcoin $BTC PeterSchiff
, a Bitcoin proponent, replied that Bitcoin is a lifeboat and will not sink with some bad occurrences.
San Francisco-based company Silvergate, which has offered banking services to crypto companies since 2013, including the failed FTX exchange, said on Wednesday that it was winding down operations, citing"recent industry and regulatory developments."Yet during the past two weeks, as news of Silvergate Bank's problems broke, Bitcoin has been declining. The sell-off worsened overnight as Bitcoin slid below the $20,000 mark for the first time since January.
Bitcoin is down 8.21% over the past day and 11.24% on the week, as the leading cryptocurrency slid to a near two-month low of $19,791 in the early hours of Friday. The majority of cryptocurrencies have meanwhile suffered significant losses on the daily and weekly timeframe.Recall that Peter Schiff recommended that holders of Bitcoin sell in January as the price reached $18,000, in advance of the first CPI data release of the year.
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