David Schwartz, CTO of Ripple, has joined a number of people who have doubts about Peter Schiff’s prediction of the Bitcoin (BTC) move after Halving.
What will be the movement of BTC after Halving?
On April 14, Peter Schiff posted on Twitter his prediction for Bitcoin after the Halving event, where he insists that we must prepare for massive liquidations.
Bitcoin Halving is an event that many consider to be bullish for the cryptocurrency, however, Schiff noted that “The most anticipated milestone in the development of Bitcoin is now less than a month away. As it is universally regarded as bullish, many speculators have already bought. This runs the risk of a big ‘sell the fact’, like those who expect to collect, withdraw money. ”
Ripple CTO Opinion
As usual on Twitter, one’s opinion sparks a long debate on the social network. In this way, Ripple CTO David Schwartz responded to express his disagreement with Schiff’s opinion.
“Are you saying that the upward effect of Halving on the offer is already included but the bearish selling pressure after it is not? The opposite seems much more plausible to me, and yet it is still quite implausible. ”, he pointed Schwartz.
Subsequently, Schiff replied to Schwartz noting that this was not what he wanted to communicate.
“I think many people have already bought Bitcoin because they think Halving is bullish, but they are wrong. So once Halving happens, there will be no buyers left. Just sellers looking to make a profit. Anyone who wants to buy will have already done so “, Schiff pointed out in response to Schwartz.
And is that the Halving of Bitcoin is usually one of the most anticipated events in the crypto ecosystem, the reason is the impact it has had on the price of all cryptocurrencies, including Ripple (XRP).
The next BTC Halving is expected in May of this year and as it gets closer, there are more and more opinions on what will happen after the event.
Consequently, Tiffany Hayden, the legend of the Ripple community, decided to join the comment thread regarding Schiff’s Tweet. So he emphasized that Schiff’s theories of asset value don’t work in the crypto market.
Who’s right Schiff or Ripple’s CTO? What will happen after the bitcoin halving?