Advertisement
AD

Main navigation

Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff

Advertisement
Sun, 20/10/2019 - 9:00
Bitcoin Price Could Drop to $2,000 or Even to $200, According to Peter Schiff
Cover image via www.123rf.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Contents
Advertisement

Euro Pacific Capital Peter CEO Schiff, who is particularly famous for being a relentless crypto hater and claiming that the top coin has less utility than a tennis ball, recently took to Twitter to share his new BTC price prediction, and crypto Twitter got riled up.  

Related
Bitcoin Price Expected to Fall to $6k, Historical Data Indicates Big Rally Will Follow

Schiff becomes a Bitcoin chartist

The gold bug predicts that the BTC price could drop below $2,000 given that Bitcoin was about to form the bearish head and shoulders pattern. However, multiple prominent crypto traders were quick to question Schiff's skills in technical analysis. Particularly, Josh Rager explained why his forecast was flawed. 


When one Twitter user saw the silver lining in Schiff's uber-bearish prediction and expressed his desire to buy the dip, the gold bug said that BTC price could "easily" drop to as low as $200, thus doubling down on his bearishness. To put this into perspective, Bitcoin hasn't seen this price level since Oct. 2015.   

Crypto Twitter started spamming the thread with the "Remind Me Tweets" bot to make Schiff once again eat his words. 

Related
Trading Legend John Bollinger Suggests Recent Bitcoin Price Drop Could Be a Bear Trap: "Wait for It"

More bearish predictions

As reported by U.Today, Schiff forecasted that the BTC price could drop to as low as $4,000 right after the top coin's 20 percent drop to the $8,000 level. That bearish call is yet to become a reality, but Peter Schiff is not the only one who expects another price drop. 

Veteran chartist Peter Brandt also claimed that the BTC price could drop to as low as $5,500 before rallying to up to $50,000

Meanwhile, trader Alessio Rastani thinks that the crypto king could end up below $2,000 if his "wild card" scenario gets invalidated and bears gain the upper hand. 

Will Bitcoin experience another major drop? Share your take in the comments! 

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD