The post Peter Schiff Warns of ‘Long Crypto Winter’ as Bitcoin, Ethereum Crash appeared on BitcoinEthereumNews.com.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The crypto market faced a major sell-off early Monday with the majority of digital assets taking a huge hit. In derivatives markets, over $2.2 billion of bullish crypto positions were liquidated over 24 hours, CoinGlass stated in an X post on Monday, highlighting it as the “biggest crypto crash.” 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.”  In a tweet, Schiff pointed out Bitcoin’s 7% and Ethereum’s 33% decline, stating: “In case you haven’t noticed, Bitcoin is down 7% tonight, trading just above $93,000, but Ethereum is crashing. It’s down 20%, trading below $2,500, but an hour ago it hit $2,100, down about 33% in one night! It looks like Punxsutawney Phil was right about that long crypto winter.” In case you haven’t noticed, Bitcoin is down 7% tonight, trading just above $93,000, but Ethereum is crashing. It’s down 20%, trading below $2,500, but an hour ago it hit $2,100, down about 33% in one night! It looks like Punxsutawney Phil was right about that long crypto winter. — Peter Schiff (@PeterSchiff) February 3, 2025 Schiff’s comments refer to the famous groundhog, Punxsutawney Phil, who “predicts” whether winter will continue or end early each year. In another tweet, Schiff doubled…

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Filed under: News - @ February 3, 2025 12:18 pm