Peter Schiff: Bitcoin Depends On ‘Growing Supply Of Fools’—And Technical Analysis Says He’s Not Wrong
Posted On October 29, 2025
Bitcoin (CRYPTO: BTC) trades near $113,000 on Wednesday, caught between Peter Schiff’s crash warning and a chart setup that could define its next major move.
Schiff Warns Of Confidence-Driven Fragility
In an X post, Schiff said Bitcoin “works only as long as there’s a growing supply of fools.”
He argued that when momentum fades, belief erodes, and Bitcoin “crashes.”
The gold advocate’s comments highlight long-standing skepticism that Bitcoin lacks intrinsic value and depends on continuous adoption.
Supporters counter that Bitcoin’s scarcity and decentralized design provide value similar to digital gold.
BTC Holds …
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