Opinion: bitcoin may fall to $ 2000 per coin

Peter Schiff, CEO of Euro Pacific Capital and chairman of SchiffGold, who is also a well-known critic of bitcoin and cryptocurrencies in general, said that BTC will never reach $ 200,000.

Recently, bitcoin investor Jeremy Davinci asked Peter Schiff’s opinion on Twitter about the prospects for bitcoin’s value. The SchiffGold CEO wrote that $ 2000 is the only realistic price that bitcoin will reach in the near future.

$ 2,000 is the only price that happens. #Bitcoin $ 200,000 never happens.

— Peter Schiff (@PeterSchiff) June 12, 2022

According to Schiff’s forecast, the value of BTC and ETH will continue to fall to $ 20,000 per bitcoin and $ 1,000 per ethereum in the near future. If this really happens, the total market capitalization, according to the critic, will fall below $ 800 billion. Schiff recommended that traders and investors refrain from buying cryptocurrencies, especially BTC and ETH.

Currently, the value of bitcoin is $ 24,000, which is the lowest price in the last 18 months. BTC fell by 10% on the day and almost 21% over the previous week, with a total market value of $ 472 billion (the lowest in 18 months).