Peter & Spencer Schiff Disagree on Bitcoin’s Price: Why?

Veteran trader and Bitcoin (BTC) critic Peter Schiff has often been at odds with his son, Spencer Schiff, who, on the other hand, is an advocate for BTC. Senior Schiff took to Twitter today and shared a poll about the current fall of BTC. The CEO of Euro Pacific Capital Inc. asked his followers if the market would run out of buyers first, or sellers.

To this, Schiff’s son, Spencer, responded saying that his “Bitcoin Derangement Syndrome” causes the veteran trader to spend too much time looking at the price.

However, many were surprised by Spencer’s response. Some even asked him to show more respect to his father.

However, this was not the first time the father-son duo have been at odds over the original cryptocurrency. On August 26, Peter Schiff took to Twitter to wish his son a happy birthday. Additionally, he said he was proud of the man his son had become despite his temporary obsession with Bitcoin (BTC).

To this Spencer replied that he is not obsessed, but rather is a fan of anything that will bring prosperity to people. Furthermore, Spencer highlighted that Bitcoin is one such invention.

However, Senior Schiff was not sold. He added that Spencer was still young and had a lot to learn. Plus, he said his youth gives him time to make mistakes and make his money back.

Schiff is a popular Bitcoin critic, but many in the community often welcome his thoughts and views.

Difficulty increasing bitcoin mining?

Schiff’s comments come as the native cryptocurrency fell below $20,000. However, according to data from BTC.com, the Bitcoin network will see its first major increase in mining difficulty in nearly 7 months.

The bitcoin mining difficulty adjustment is expected to roll out in less than 48 hours. Furthermore, according to initial expectations, mining problems are expected to increase by almost 7%.

At press time, BTC was trading at $19,863.59, down 0.8%.