'Sell Bitcoin Now' – Crypto Critic Peter Schiff Warns Of BTC's Price Falling To $20,000

In a post on X, Peter Schiff stated that if Bitcoin’s price dips below $50,000, it is “highly likely” to keep falling until it hits $20,000.

• Bitcoin’s drop to $20,000 would represent an 85% fall from its October peak of over $126,000, Schiff said in a post on X.
• He dismissed concerns asking for a technical analysis, calling the volatility of Bitcoin’s price “a feature, not a bug.”
• Bernstein and Standard Chartered continue to project Bitcoin could reach $150,000 by year-end.

Long-time crypto critic and gold bull Peter Schiff brought back his call to “sell Bitcoin” on Thursday, warning that if the cryptocurrency falls to $50,000, there may be a deeper correction ahead.

“If Bitcoin breaks $50K, which looks likely, it seems highly likely it will at least test $20K,” he wrote in a post on X. “That would be an 84% drop from its ATH.” When asked if he had any technical analysis to support his hypothesis, Schiff simply replied, “Volatility is a feature, not a bug,” addressing the troughs and peaks of the crypto market.

Bitcoin’s price was trading at around $67,800 on Friday morning, up 1.1% in the last 24 hours. On Stocktwits, retail sentiment around the apex cryptocurrency continued to trend in ‘bearish’ territory over the past day, amid ‘low’ levels of chatter.