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Peter is back on his #peterschiffbubble riding the bitcoin coattails for clicks, views, likes, and hopefully selling some good old fashioned gold. As usual, he's rambling on pretty much nothing about how it's not China, and how it's just whales.
Well duh Peter. Every bitcoin market cycle, we have seen sideways trading leading into the bitcoin halving. The market is still small enough for manipulation, and well, traders gonna trade. Whales gonna gobble up all the little minnows they can.
But, that is not going to be the norm forever. As the market grows, we will see less of this, less volatility, and eventually the stability required for bitcoin to be used as a stable medium of exchange.
For now Peter, you keep riding that anti-bitcoin wave of propaganda you spew. We'll be waiting for you to see the light!
See you next time, this is Deflating Peter Schiff!