{"id":113806,"date":"2020-11-17T18:00:00","date_gmt":"2020-11-17T15:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-up-375-since-peter-schiff-accidentally-called-the-exact-bottom\/"},"modified":"2020-11-17T18:00:00","modified_gmt":"2020-11-17T15:00:00","slug":"bitcoin-up-375-since-peter-schiff-accidentally-called-the-exact-bottom","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-up-375-since-peter-schiff-accidentally-called-the-exact-bottom\/","title":{"rendered":"# Bitcoin up 375% since Peter Schiff accidentally called the exact bottom"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25721139fcc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25721139fcc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-up-375-since-peter-schiff-accidentally-called-the-exact-bottom\/#Schiff_tweet_%E2%80%9Cmarks_exact_bottom%E2%80%9D_for_BTC\" >Schiff tweet \u201cmarks exact bottom\u201d for BTC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-up-375-since-peter-schiff-accidentally-called-the-exact-bottom\/#Supply_gap_looms_large\" >Supply gap looms large<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin up 375% since Peter Schiff accidentally called the exact bottom <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The Bitcoin (BTC) price bottomed at exactly the point that gold bug Peter Schiff said that it would crash further \u2014 and proponents are reminding him of his mistake.<\/p>\n<p>Retweeting a now infamous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> post that Schiff made in mid March, popular trader \u201cCryptoBull\u201d <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoBull\/status\/1328699357617664000\">noted<\/a> that he had accidentally called Bitcoin\u2019s bottom, not top. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Schiff_tweet_%E2%80%9Cmarks_exact_bottom%E2%80%9D_for_BTC\"><\/span>Schiff tweet \u201cmarks exact bottom\u201d for BTC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Schiff was complaining that he had lost access to his Bitcoin wallet, but that soon it wouldn\u2019t matter, because BTC\/USD would keep crashing.<\/p>\n<p>\u201cWith Bitcoin crashing below $4,000 I don\u2019t feel so bad about having lost all my Bitcoin,\u201d the tweet read. <\/p>\n<blockquote><p>\u201cAt the rate my lost Bitcoin are losing value soon the difference between having Bitcoin and not having any Bitcoin will be too small to matter.\u201d<\/p><\/blockquote>\n<p>At the time, Bitcoin was trading near its 2020 lows of $3,600. On Tuesday, eight months later, CryptoBull did not mince wordsas the asset hit $17,000.<\/p>\n<p>\u201cThis tweet marked the exact bottom aka point of maximum opportunity,\u201d he wrote.<\/p>\n<p>Bitcoin has vastly outperformed gold over the past month, with a divergence between the two assets becoming increasingly conspicuous.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/10178401-bda6-4582-b0b9-4b8b286ae2b1.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin vs. gold 3-month chart. Source: Skew<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Supply_gap_looms_large\"><\/span>Supply gap looms large<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin was up 375% from Schiff\u2019s \u201ctop\u201d at press time, challenging its all-time highs from 2017 amid fresh forecasts that it would continue climbing thereafter. <\/p>\n<p>\u201cSince Bitcoin was at $11.4K a month ago, miners have been selling an average 11 BTC per hour at exchanges,\u201d statistician Willy Woo\u00a0<a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/woonomic\/status\/1328527907732406272\">explained<\/a> regarding the current market composition driving the gains. <\/p>\n<blockquote><p>\u201cIn comparison 214 BTC per hr has been scooped off exchanges. This is net flows of buyers over sellers. This week\u2019s average is 328 BTC per hr.\u201d<\/p><\/blockquote>\n<p>As Cointelegraph reported, the simple supply versus demand equation firmly favors further upside for Bitcoin, this coming thanks to corporate demand from the likes of PayPal, Square and investment giant Grayscale. <\/p>\n<p>Paxful, PayPal\u2019s payment handler for its cryptocurrency feature, saw a 500% volume increase over the past month. <\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-up-375-since-peter-schiff-accidentally-called-the-exact-bottom\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin up 375% since Peter Schiff accidentally called the exact bottom &#8221; The Bitcoin (BTC) price bottomed at exactly the point that gold bug Peter Schiff said that it would crash further \u2014 and proponents are reminding him of his mistake. Retweeting a now infamous Twitter post that Schiff made in mid March, popular&#8230;<\/p>\n","protected":false},"author":1,"featured_media":113807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/3fe061a4-8c6e-44f3-a0b4-02c4cb85cdbd.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,71835,73785],"class_list":["post-113806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-gold","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/113806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=113806"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/113806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/113807"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=113806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=113806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=113806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}