During a recent interview with CNBC, Michael Novogratz, a well-known crypto advocate, shared his thoughts on the factors that contributed to the rise of Bitcoin.
However, Peter Schiff, a vocal critic of the cryptocurrency, accused reporters of failing to ask Novogratz tough questions about the digital asset.
Despite Bitcoin’s price hovering around $30,000 during the interview, Schiff believes that the hype surrounding the cryptocurrency has dissipated, and he predicts an impending crash.
Schiff’s skepticism about Bitcoin’s viability is not new, as he has been forecasting the cryptocurrency’s failure for years.
In fact, he previously went so far as to predict that Bitcoin would plummet to zero, and he has recently doubled down on his bearish outlook, stating that BTC is poised for a significant decline.