Peter Schiff made an estimated crash time for Bitcoin

Chief economist Peter Schiff asked his 983,000 social media followers when they thought the price of Bitcoin would crash.

However, Schiff disagreed with the results given by his followers.

Peter Schiff contradicts followers regarding the timing of the Bitcoin crash.

Schiff directly asked his followers whether the Bitcoin crash would happen before or after the launch of a Bitcoin exchange-traded fund (ETF). Results were skewed towards post-initiation, with 23% predicting it would happen before initiation, as opposed to 8%.

However, Schiff disputed the results and issued his own verdict:

“Based on the results, my guess is that Bitcoin will crash before the launch of the ETF. That's why those who bought the rumor have no profit if they wait to sell.”

Learn more: How to Prepare for a Bitcoin ETF: A Step-by-Step Approach

However, 68.1% clicked on the neutral third option, “Buy to the Moon and HODL.”

“Based on your results, I'd say 70% of your followers hold Bitcoin, which should tell you something,” said one X user.

The approval of the Bitcoin ETF gives hope to the speculation of oil

Several recent reports highlight Bitcoin's notable price increase in anticipation of the upcoming Bitcoin ETF approval.

On November 9, BeInCrypto reported that Bitcoin crossed the $36,000 mark. This level has not been seen since it fell in May 2022.

Meanwhile, two Bloomberg analysts confidently asserted a 75% chance of Bitcoin ETFs being introduced in the United States this year.

In a post on X (formerly Twitter), Bloomberg Senior ETF Analyst Eric Balchunas, along with James Seifert, upped their confidence in their predictions for the adoption space of Bitcoin ETFs this year.

“[James Seyffart] And I'm upping our odds to 75% spot Bitcoin ETFs. [year]He said.

Learn more: How to buy Bitcoin (BTC) and everything you need to know