Here’s Why the Son of a Bitcoin Slasher Turns His Total Dedication to Bitcoin – Siam Blockchain

Mr. Peter Schiff is a cursed. Bitcoin An avid guy, his tweets are now filled with more tweets regarding Bitcoin than gold.

And now his son Spencer Schiff celebrated his 20th birthday recently and he is known as the Bitcoin Believer, unlike his father who is a Bitcoin bully.

Schiff Jr. Explains Why He’s Obsessed with Bitcoin

In a recent tweet, Peter Schiff wished his son a happy birthday. And he said that Spencer Schiff’s interest in Bitcoin at this time was just “Temporarily infatuated”

Peter Schiff said his son was still young. So he had plenty of time to learn things including his misconceptions regarding Bitcoin.

Spencer Schiff has come out on why he is obsessed with Bitcoin, and he says Bitcoin is one of those things. “It will make humanity more prosperous and technologically advanced.”

He also tweeted that Bitcoin has the potential to greatly improve the quality of life.

Thanks but it’s really not an obsession. I’m a fan of anything that can make humanity more prosperous and technologically advanced. Bitcoin is one of many things that I think will do that.

— Spencer Schiff (@SpencerKSchiff) August 26, 2022

And Peter Schiff added that he is not the only child obsessed with Bitcoin, but there are many others who are obsessed with it. And is suffering the loss of Bitcoin, most of whom are as young as his sons.

And this big Bitcoin bully has said: Investing in Bitcoin is a big mistake.

Peter Schiff Warned Everyone Before Bitcoin’s Fall

On Aug. 20, Peter Schiff warned everyone on Twitter regarding an earlier tweet on Aug. 14 that tweeted that Bitcoin is currently bearish.

Just to put the #Bitcoin rally into perspective, take a look at this chart. The pattern remains very bearish. There’s both a double top and a head and shoulders top. There’s a rising wedge forming below the neckline. At a minimum support will be tested below $10K. Look out below! pic.twitter.com/OHNhwsgxxs

— Peter Schiff (@PeterSchiff) August 14, 2022

He said that Bitcoin will test the support at $10,000, although he has not said that Bitcoin will definitely fall to $10,000. But his prediction of Bitcoin’s drastic fall came true.

He also hadpredictin June that Bitcoin would fall to $20,000 and Ethereum will fall to $1,000

Bitcoin Fluctuates at Fed Chairman’s Speech

On Friday, Aug. 26, the price of Bitcoin quickly dropped below $21,000 following the speech of Fed Chairman Jerome Powell.

So far, Bitcoin has steadily dipped to $20,000 and dragged Ethereum and Cryptocurrency Followed by and besides Mr. Powell’s words will affect the crypto market. His words also affected the stock market.

After Powell’s speech, the Nasdaq fell 4%, the largest intraday decline since the end of June, and the Eth fell 9.7%, falling below $1,500, and the 12h liquidation amounted to $266m. U.S. inflation data fell and confidence index rose, leading to more certainty of Fed rate hikes.

— Wu Blockchain (@WuBlockchain) August 27, 2022

Source : U.Today