How Can You Not Be Bullish on Bitcoin? Analyst Asks Due to New Data

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Despite positive fundamental trends, not all involved in the cryptocurrency industry are bullish on Bitcoin. Take the example of Peter Schiff, the CEO of Euro Pacific Capital, who recently said that BTC is likely to fall below $9,000. As reported by Bitcoinist, Schiff wrote: “Gold seems to be chipping away at resistance just below $1,800 while Bitcoin is simultaneously chipping away at support just above $9,000. I expected both resistance and support to give way, with gold surging as Bitcoin collapses.” Gold seems to be chipping away at resistance just below $1,800 while Bitcoin is simultaneously chipping away at support just above $9,000. I expected both resistance and support to give way, with #gold surging as #Bitcoin collapses. What do you think will happen? — Peter Schiff (@PeterSchiff) July 5, 2020 An on-chain analyst, though, recently suggested that one crucial on-chain trend is making it almost irrational not to be…

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