Peter Schiff Warns: Bitcoin Will Fall Even More!

bitcoin and to cryptocurrencies one of the most negatively approached names Peter Schiffpredicts a new drop in cryptocurrencies.

“Get Ready for Collapse”

Peter Schiff, founder, CEO and chief global strategist of Euro Pacific Capital, shared his latest crash forecast for the crypto markets on Twitter.

According to Schiff, the other day CNBC devoted a lot of time to Bitcoin in its broadcasts and officially advertised the cryptocurrency.

Schiff believes this was done by people holding large amounts of BTC as a paid marketing strategy. Thus, large BTC holders will be able to sell their crypto money to someone else.

Based on this theory, Schiff expects a much larger decline in cryptocurrencies.

However, it should not be forgotten that Schiff said in 2019, when BTC was at $3000 prices, “it will never be seen again at $10,000 or more”, and that he was wrong in this prediction.

New Drops In Bitcoin?

Although Peter Schiff expresses very negative views on cryptocurrencies in general, it is clear that some of his predictions are consistent.

Schiff predicted that in June of this year Bitcoin will drop to $20,000, the second largest cryptocurrency. Ethereum He had predicted it would fall to $1,200.

Days later, Schiff boasted that he made these predictions 100% accurate as the two top cryptocurrencies fell to the levels he announced. Now Schiff BTC 10,000 dollars waiting for the level to fall.

Bitcoin seems to be consolidating these days after facing a 10.83% drop last week.

The leading cryptocurrency is currently trading around $21,500. It is a matter of curiosity whether Schiff’s latest prediction will come true.