Peter Schiff Called Out for Mistake by Crypto Twitter

Schiff Gets Targeted

Peter Schiff, the gold bug got pulled into Twitter after he sent out wrong information about bitcoin and the decrease in its price. He had incorrectly claimed that the price of bitcoin has gone down by 15% in the month of June of 2019.

Since June 19th, favorable press, weakness in global currency and stock markets, falling interest rates, and a 10% rise in the gold price, have provided ample reasons for Bitcoin speculators to buy. Yet Bitcoin’s price fell 15%! Hodlers should wonder who’s been selling, and why?

— Peter Schiff (@PeterSchiff) August 8, 2019

In opposition, he gloated about the fact that hold has risen in price by 10% within the same period. Rather than dropping, Schiff stated that the price of bitcoin should have increased because of the combination of weak global currency, favorable press, falling interest rates, and the stock markets.

He then suggested that people who are holding bitcoins might be experiencing some remorse as they did not sell it off. Schiff had made another tweet saying that the holders might be wondering who is selling it and why.

The CEO of Bull Bitcoin, the bitcoin exchange based in Canada, Francis Pouliot had reacted to this by criticizing what Schiff had to say. He attached a chart which contradicts the claims that have been made by Schiff. The chart shows the gradual crescendo in the price of bitcoin over the last 7 weeks. He then tweeted saying that Schiff is lying as the price of Bitcoin has increased by $2000 per coin from June 2019.

Inb4 Peter Schiff claims he didn't make a mistake because, in fact, $BCH is the real Bitcoin. https://t.co/To6MlKVXPa

— Francis Pouliot ☣️ (@francispouliot_) August 8, 2019

Reminder to Peter Schiff: Crypto Twitter is watching every word you say.