Bitcoin Surges 30% Despite Peter Schiff and Jim Cramer’s Warnings

• Bitcoin has gone up by nearly 30% since Peter Schiff and Jim Cramer warned people to get out of crypto.
• Peter Schiff expected the bitcoin spike at the start of the year to cease shortly after it began and advised investors to sell their holdings.
• Jim Cramer urged people to cash out their “awful” crypto positions at the beginning of December last year, while bitcoin was trading at around $20,000.

The cryptocurrency market has been on a rollercoaster ride over the last few months and Bitcoin has been no exception. Despite numerous warnings from prominent figures like Peter Schiff and Jim Cramer to get out of crypto, Bitcoin has continued to surge and is now trading at around $22,800, marking an increase of nearly 30% since the two financial commentators made their pessimistic predictions.

At the start of the year, Peter Schiff, one of the biggest critics of the cryptocurrency industry, expected bitcoin’s spike to cease shortly after it began and advised investors to sell their holdings when the asset was trading at around $18,000. However, the uptrend continued and the cryptocurrency has seen an impressive 27% increase since then.

In a similar vein, Jim Cramer urged people to cash out their “awful” crypto positions at the beginning of December last year, while bitcoin was trading at around $20,000. Again, this warning has failed to materialize, as the digital asset has gone up by 10% since then.

Despite the warnings from these two financial commentators, Bitcoin has continued to defy the odds and surge higher. This could be attributed to the increasing institutional involvement in the industry and the growing adoption of digital assets by retail investors. Furthermore, the long-term prospects of the crypto market have been boosted by the recent announcement from PayPal that it will allow its customers to buy, hold, and sell crypto.

Overall, it seems that Bitcoin is still very much in an uptrend and that, despite the warnings from Peter Schiff and Jim Cramer, it’s still wise to keep an open mind when it comes to the cryptocurrency market. As always, it’s important to do your own research and make sure you are aware of the risks associated with investing in digital assets.

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