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There is no value in cryptocurrencies and investors should sell their digital assets before they become worthless, prominent crypto-sceptic Peter Schiff has suggested. Taking to X, renowned economist and Bitcoin critic Peter Schiff highlighted the crypto market downturn while issuing a seeming warning of a long crypto winter. Peter Schiff has seemingly insisted that “crypto winter” is better coined as an impending “crypto extinction.” The CEO has been outspoken in his perception that (MoneyWise) - With the massive pullback in cryptocurrency prices and the collapse of crypto exchange FTX, the term “crypto winter” is now making headlines. But Peter 4.7M subscribers in the Bitcoin community. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike

Peter Schiff Says Crypto Winter is Better Coined as Crypto Extinction

Is the crypto winter simply a harsh season, or something far more permanent? Prominent crypto-sceptic Peter Schiff has suggested that the term "crypto winter" doesn\'t quite capture the gravity of the situation, arguing that we\'re witnessing an impending “crypto extinction.” There is no value in cryptocurrencies and investors should sell their digital assets before they become worthless, according to Schiff. Taking to X, renowned economist and Bitcoin critic Peter Schiff highlighted the crypto market downturn while issuing a seeming warning. His stark assessment comes at a time when the term “crypto winter” is now making headlines (MoneyWise), fueled by the massive pullback in cryptocurrency prices and the collapse of crypto exchange FTX. Peter Schiff has seemingly insisted that “crypto winter” is better coined as an impending “crypto extinction.” The CEO has been outspoken in his perception that the current downturn isn\'t a temporary setback, but rather a terminal decline for the entire cryptocurrency ecosystem. Schiff\'s viewpoint contrasts sharply with the optimism prevalent among the 4.7M subscribers in the Bitcoin community. He argues that unlike Bitcoin, which he consistently criticizes, other cryptocurrencies lack any intrinsic value and are destined for oblivion. This perspective paints a bleak picture for investors holding digital assets. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies controlled by central banks, Bitcoin\'s decentralized nature is often touted as its strength, but Schiff views it as a fundamental flaw. Whether you agree with Peter Schiff or not, his pronouncements are impossible to ignore. Is he a Cassandra warning of impending doom, or simply a long-standing critic whose bias colors his analysis? Only time will tell if the crypto winter truly evolves into a crypto extinction, but Schiff\'s words serve as a stark reminder of the risks involved in investing in digital currencies.

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