Renowned economist Peter Schiff warned Thursday that Bitcoin (CRYPTO: BTC) could crash to $20,000 or lower, urging market participants to exit before it’s too late.
Schiff’s Super Bearish Prediction
In an X post, Schiff suggested that Bitcoin, which, according to him, is on the verge of sliding below $50,000, could drop even further to $20,000, marking an 84% drawdown from its all-time high.
“I know Bitcoin has done that before, but never with so much hype, leverage, institutional ownership, and market cap at stake,” he added. “Sell Bitcoin now!”