Peter Schiff predicts a significant drop in bitcoin to $ 20,000

Outspoken gold supporter and bitcoin skeptic Peter Schiff has made another bold prediction about the future price trajectory of bitcoin. The analyst highlighted $ 60,000 as a crucial support level.

Peter Schiff argues that a decisive break below this level could form a triple top pattern, paving the way for a decline to $ 20,000. This figure would mean significant losses for companies such as MicroStrategy, which has significant investments in bitcoin.

However, according to other experts, Schiff’s prediction of a drop to $ 20,000 is not only surprising, but also disconnected from current market trends and the institutional support that bitcoin has received since the approval of the first exchange-traded ETF. Since Schiff’s track record in bitcoin forecasts has been quite inaccurate, his estimate is not considered a standard among experts.

MicroStrategy’s bitcoin funds did suffer unrealized losses during the market downturn. However, the company’s strategy is long-term, and its CEO Сейлор" href="https://noworries.news/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Saylor has consistently advocated bitcoin as a revolutionary asset class.

In early April, Schiff accidentally predicted that bitcoin would rise to $ 94,000. Schiff traditionally targets bitcoin and its holders in his X platform thread. However, among his comments, a statement slipped through — a figure that attracted the attention of both crypto enthusiasts and skeptics: $ 94,000.