It broke the $69,000, $62,000, $58,000, $54,000, $50,000 and $46,000 support points one by one. Bitcoin (BTC), if last night for $42,000 regressed, increasing the level of fear. BTC price temporarily pulled from $42,000 to $42,800 and is currently trading at $43,000. Although the 7.2% decrease in the Bitcoin price in 24 hours means an alarm signal for many investors, especially one person seems very satisfied with it.
Schiff Warns BTC Investors
Euro Pacific Capital CEO and famous gold investor Peter Schiff, this opportunity was not wasted. Schiff gave a very important warning in the face of the decline of the Bitcoin price and managed to attract a reaction.
Schiff stated that if the $42,000 support is broken, the initial target is $30,000. If $ 30,000 is broken, according to Schiff, the BTC price can be pulled up to $ 15,000. Emphasizing that all of these could happen “in the very near future”, the experienced name stated that those who borrow money or take loans in exchange for BTC should close it immediately.
if #Bitcoin breaks $42K it’s headed to $30K. If it breaks $30K it it could crash to $15k. All this might happen very soon. If you’ve borrowed money against your Bitcoin you had better sell enough Bitcoin now to repay your debt rather than be liquidated later at much lower prices.
— Peter Schiff (@PeterSchiff) January 5, 2022
According to Schiff, these investors should sell as many BTC as they can right now. Otherwise, its investors may expect liquidation at lower prices.
Of course, what new investors don’t know is that Schiff has been making these warnings for a long time. Schiff stated that BTC was expensive at $ 3,800 in 2018, and emphasized that everyone should sell at this price. Bitcoin, on the other hand, rose to $ 69,000 after that date.