From Investing.com.

July 27, 2024 12:00:22 PM:

Renowned critic Peter Schiff revealed a surprising fact about Bitcoin. Despite his skepticism, he noted that many smart individuals have examined Bitcoin, with over 90% of 14,000 survey participants expressing they would not sell their Bitcoin even if the price plummeted by 96%.

Schiff acknowledges the unwavering belief and determination within the Bitcoin community, yet he remains skeptical of the cryptocurrency.

Bitcoin has faced regulatory challenges and market fluctuations but has shown resilience with the current price around $68,000. Differing opinions exist – some, like Schiff, doubt its long-term viability, while others see it as a hedge against inflation.

Technically, Bitcoin shows positive performance, with support from moving averages indicating a bullish trend. The RSI suggests the asset is not overbought, hinting at a possible price increase if current momentum continues.

Despite skepticism from individuals like Schiff, the future of cryptocurrencies appears promising, as seen in the strong belief exhibited by poll respondents and the current state of the Bitcoin market.

Read more at Investing.com.: Peter Schiff Reveals Unexpected Fact About Bitcoin (BTC) By U.Today