Bitcoin Crashes Below $7,000, Peter Schiff Calls BTC Sinking Ship

Thu, 03/12/2020 - 11:18
Yuri Molchan

The Bitcoin price has dropped well below the $7,000 mark and major BTC critic Peter Schiff has stepped in to rub some salt on the wound

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The Bitcoin price has crashed below the $7,000 mark, trading at $6,285, according to CoinMarketCap figures. Peter Schiff, the famous Bitcoin hater, has compared Bitcoin with a sinking ship in his recent tweet, stating that ‘the air continues to come out of this bubble’.

He went after those Bitcoin proponents who have stated that, despite the price collapse, Bitcoin has still outperformed the major conventional assets this year, saying that such people will always be able to find a point in the past, from which Bitcoin currently sits higher.

Analyst Michael van de Poppe commented on the new Bitcoin price:

“So, I left Amsterdam 40 minutes ago at $7,300. Now parked in between my drive and we bounced from $5,500 to $6,500. Excuse me.”

Bitcoin Price Falling to $6,400 as $21.7 Mln in BTC Moved by Top Exchange

Trader Scott Melker tweets:

“7100-5500 in a single 30 minute candle.”

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About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at

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