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"The Bitcoin Bubble Popped and Collectors Will Be Selling No Matter What Happens to Financial Assets"-Peter Schiff
Peter Schiff, one of the loudest Bitcoin and crypto skeptics, is running a victory lap as the price of Bitcoin languishes. Here's why you should tune out the noise.
Collective illusion is a term I recently heard for the first time in a YouTube video. Collective illusion refers to a shared hallucination where a group believes in something that doesn't exist. They usually spread through propaganda, misinformation, or biased media and communication.
Collective illusions can be dangerous because they can influence people's thoughts, behaviors, and actions in ways that aren't based on reality. Unfortunately, with the rapid growth of social media, algorithms, and bots, collective illusions have skyrocketed in the 21st century.
Peter Schiff's relentless and terminally incorrect predictions about Bitcoin help feed a collective illusion that Bitcoin has no value and is only considered by people on the fringe. So let's dive deeper into why you should question his credibility and motivation for spreading misinformation about Bitcoin.
