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Bitcoin at $20,000 Likely to Be False Bottom: Peter Schiff

Tue, 09/06/2022 - 13:21
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Yuri Molchan
Vocal Bitcoin opponent Peter Schiff issues yet another warning to Bitcoin holders, telling them to "abandon the sinking ship"
Bitcoin at $20,000 Likely to Be False Bottom: Peter Schiff
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Head of Euro Pacific Capital and founder of SchiffGold, economist and podcaster Peter Schiff, has taken to Twitter to share another piece of advice on Bitcoin with the community.

He believes that the level at which Bitcoin is currently holding is most likely a false bottom.

"The $20,000 bottom may drop out"

The Bitcoin hater pointed out that the flagship digital currency has been exchanging hands near the $20,000 level for nearly two weeks now.

He believes that Bitcoin is luring new investors to "climb aboard a sinking ship," but $20,000 is likely to prove to be a false bottom, per Schiff.

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His advice is "to abandon the ship," otherwise, when the bottom drops out, it may be too late.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at