Peter Schiff Once Questioned Wisdom Of HODLing Ethereum At $1,200 —Since Then, The Second-Largest Crypto Has Soared 116%
Peter Schiff is well-known for his dismissive remarks about Bitcoin (CRYPTO: BTC), but the famed economist has also occasionally taken potshots at its younger sibling, Ethereum (CRYPTO: ETH).
What happened: The cryptocurrency market started to reverse sharply in 2022, following the massive bull rally in 2021. ETH wasn’t aloof, collapsing from $3,450 in April to the early $1,000s by mid-June.
In a May post on X, then Twitter, Schiff painted a bearish outlook, warning that Ethereum would fall to a level around $1,000.
The second-largest cryptocurrency eventually slipped to $1,200 in the next two weeks, validating his prognosis.
“I warned you guys about this less than three weeks ago. If you’re still HODLing Ethereum at $1,200, it’s your own fault,” Schiff said.
About The Author
