Bitcoin recently surged to the $93,000 mark, but just as the market was boiling over, the famous "Big Short" Peter Schiff suddenly came out to pour cold water. This veteran of the financial world once again shouted: "Bitcoin's frenzy is dead, and now there's a chance to walk away unscathed!"

This guy's track record is quite interesting. Back in the crazy rally of 2020, he was shouting that Bitcoin would go to zero. And what happened? BTC stubbornly rose from just over $10,000 to $60,000, $70,000, and now over $90,000. His current reasoning is that cryptocurrencies are not safe-haven assets at all, but just a speculative bubble. That said, BTC's rebound this time is actually driven by the Fed's rate cut expectations, defying the overall trend.

Looking closely at this old guy's assertions, there are actually quite a few flaws. First, his past prediction record is hardly convincing. From calling for zero in 2020 to now, how many times has BTC multiplied? That calculation is not easy to pin down. Second, he seems to overlook the cyclical effect of Bitcoin halving and the reality that more institutional funds have been entering the market in recent years. The Fed's policy direction is constantly changing, and such policy shifts can easily trigger a new market rally. His analysis framework doesn't seem to fully consider this.

Ultimately, the market is so unpredictable and volatile. There are bearish voices confidently singing the blues, and there are institutional investors continuously adding positions. BTC's price action is constantly unfolding amid this tug-of-war. For ordinary investors, the key is to recognize the risks clearly, rather than being completely dominated by any single voice.