Unexpected Endorsement from Bitcoin (BTC) Enemy Peter Schiff! “Sell This Altcoin, Buy Bitcoin!”

An unexpected statement came from gold advocate Peter Schiff, who has made his name as the biggest Bitcoin enemy.

Peter Schiff, who made a surprising statement on the rise of the largest altcoin Ethereum, suggested selling Ethereum (ETH) and buying Bitcoin (BTC).

Claiming that Ethereum has entered a bear market compared to Bitcoin at this point, Schiff argued that Ethereum is nearing the top of its trading range and that it might be better to sell it now and use the money obtained to buy Bitcoin.

While Schiff is not a fan of either cryptocurrency, he notes that he currently sees Bitcoin as the stronger option.

“Ethereum has reached the upper end of its trading range again. If you’re holding now, it’s a good time to sell.

As painful as it is to say, selling Ethereum and using the proceeds to buy Bitcoin is a better strategy than continuing to hold Ethereum.

Ethereum’s Bullish Bearish Recovery!

The famous name stated that he would not personally choose to buy Bitcoin or Ethereum, but he stated that Ethereum is in a bear market compared to Bitcoin.

“ETH’s recent rise is merely a recovery within a bear market. If you feel compelled to hold cryptocurrency, selling Ethereum and buying Bitcoin would be a more sensible choice.”

Peter Schiff recently stated that Ethereum faces competition and a growing number of competitors in terms of its use cases. The expert argued that Ethereum offers more alternatives in terms of platform utility compared to Bitcoin.

*This is not investment advice.