Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Economist Peter Schiff has been actively against bitcoin for years now and has been warning investors to stay away from the digital asset. Time and time again, the economist has warned that the price of bitcoin was going to zero, and even after being wrong on multiple occasions, Schiff has not changed his stance on the digital asset. True to form, he has taken to Twitter to warn investors to stay away from the cryptocurrency. Peter Schiff Says Sell Bitcoin On Tuesday, chief economist and global strategist Peter Schiff took to Twitter to warn investors once more about the \u2018dangers\u2019 of investing in bitcoin. He pointed towards the recent trend of bitcoin at $20,000, referring to this as a false bottom. He further goes on to say that this is not the time to be buying, given that it is likely that the price of the digital asset would likely continue to plunge. His advice during this time was for investors to sell their bitcoin.\u00a0 Related Reading: Public Bitcoin Mining Firms Are Nearly Out Of Coins To Sell \u201cMarkets rarely give investors much time to buy the bottom. #Bitcoin has been trading near $20K for the past 12 days. More likely, $20k will prove to be a false bottom, giving suckers plenty of time to climb aboard a sinking ship. Better to abandon ship before the bottom drops out.\u201d In a follow-up tweet, Schiff points toward the declining dominance of bitcoin as a reason why it is not a good option to invest in. According to the economist, it is now competing with 21,000 other cryptocurrencies and assets across different spheres of the space. So, in the end, all of the competition is affecting the value of the digital asset. BTC dominance drops to 39% | Source: Market Cap BTC Dominance on TradingView.com BTC Loses Market Share Bitcoin\u2019s market share has been plummeting over the last couple of years. The digital asset has gone from having more than 90% of the total market share to having less than half, and it has not stopped losing market share. BTC\u2019s total market dominance is currently sitting below 40% at the time of this writing. However, it is important to keep in mind that the digital asset has been able to maintain such large dominance even at a time when altcoins are growing in popularity and commanding more attention from investors. Related Reading: Merge Momentum: Ethereum Sets New 2022 High Against Bitcoin Bitcoin\u2019s increasing use as an inflation hedge also helps to prop up the digital asset. As well as giving higher year-over-year returns over the past few years. The cryptocurrency has also proved Schiff wrong in the past, rallying to $69,000 when the economist forecasted it going to zero. BTC is no doubt in a bear trend that might continue for a while, as evidenced by previous bear market cycles. However, if history is any indicator, then bitcoin is likely to go on another bull rally as the halving rolls around in 2024. Featured image from Coincu News, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":501594,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[86793,679,1119,1144,41003],"class_list":["post-501593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-market-share","tag-bitcoin-price","tag-btc","tag-btcusd","tag-peter-schiff"],"acf":[],"yoast_head":"\n
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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Detractor Peter Schiff Says It\u2019s Time To Sell BTC, Here\u2019s Why","url":"http:\/\/wncen.com\/news\/bitcoin-detractor-peter-schiff-says-its-time-to-sell-btc-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-detractor-peter-schiff-says-its-time-to-sell-btc-heres-why\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Peter-Schiff-bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Peter-Schiff-bitcoin.jpeg?fit=1280%2C720"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin market share","bitcoin price","btc","btcusd","peter schiff"],"dateCreated":"2022-09-08T23:00:04Z","datePublished":"2022-09-08T23:00:04Z","dateModified":"2024-06-11T14:25:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Detractor Peter Schiff Says It\\u2019s Time To Sell BTC, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-detractor-peter-schiff-says-its-time-to-sell-btc-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-detractor-peter-schiff-says-its-time-to-sell-btc-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Peter-Schiff-bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Peter-Schiff-bitcoin.jpeg?fit=1280%2C720\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin market share\",\"bitcoin price\",\"btc\",\"btcusd\",\"peter schiff\"],\"dateCreated\":\"2022-09-08T23:00:04Z\",\"datePublished\":\"2022-09-08T23:00:04Z\",\"dateModified\":\"2024-06-11T14:25:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Peter-Schiff-bitcoin.jpeg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/501593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=501593"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/501593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/501594"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=501593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=501593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=501593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}