Peter Schiff says Bitcoin could crash 84% if it breaks below $50,000. The gold advocate and longtime crypto critic warned investors to “sell Bitcoin now.”
Schiff predicts a drop toward $20,000, arguing that today’s market is riskier than past cycles. He cited higher leverage, more institutional ownership, and a larger market size.
“This could mirror past drawdowns, but never with so much hype and market cap at stake,” Schiff wrote on X.
Bitcoin has suffered big drops before. After its 2017 and 2021 peaks, the price fell more than 70% in bear markets. But the market has changed, with ETFs, corporate holdings, and institutions now involved.
Schiff’s warning drew backlash online. Critics reminded users that he has issued bearish calls for years, including when Bitcoin traded near $100, and has often been wrong.
Some argued that Bitcoin’s value lies in its censorship-resistant network, global liquidity, and lack of gatekeepers. They said volatility is just part of the market pricing a new financial system.
The debate highlights a split in the investment community: is Bitcoin more resilient because of institutional involvement, or more vulnerable if prices drop sharply?
Bitcoin traders are watching key levels closely, as recent volatility has made the market unpredictable. Schiff’s warning adds fuel to the ongoing debate.
