Peter Schiff Says Bitcoin’s Rally To $34K May Peak If GBTC Converts To ETF, Predicts Potential Selloff

Gold bug Peter Schiff expressed his opinion on the current state of Bitcoin BTC/USD trading and the potential impact of the approval of a Bitcoin Exchange-Traded Fund (ETF) by the Securities and Exchange Commission (SEC). 

What Happened: Schiff noted that Bitcoin is currently trading around $34,250, with speculators betting on the SEC’s approval of the Grayscale Bitcoin Trust (GBTC) converting into an ETF.

Schiff warned that if the conversation about the ETF approval takes place, it could potentially mark the peak of the Bitcoin rally. “Bitcoin is now trading at $35K as speculators bet on SEC approval of GBTC converting into an ETF.  Such a conversation will likely mark the top of the…

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