Peter Schiff stated that if Bitcoin breaks below $50,000, the next likely target could be $20,000.
Such a move would represent an 84% decline from its all-time high. He noted that while Bitcoin has experienced severe drawdowns before, current conditions include elevated leverage, significant institutional participation, and a much larger market capitalization.
Schiff urged investors to consider selling BTC before a deeper correction unfolds.
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Peter Schiff warns of potential drop to $20,000
Peter Schiff stated that if Bitcoin breaks below $50,000, the next likely target could be $20,000.
Such a move would represent an 84% decline from its all-time high. He noted that while Bitcoin has experienced severe drawdowns before, current conditions include elevated leverage, significant institutional participation, and a much larger market capitalization.
Schiff urged investors to consider selling BTC before a deeper correction unfolds.
$BTC
{spot}(BTCUSDT)