In a recent tweet, Bitcoin nemesis Peter Schiff predicted that the price of the largest cryptocurrency would drop below the $18,000 level once again.
Schiff's bearish prediction comes after the flagship cryptocurrency managed to touch the highest level in several months after reclaiming the $21,000 level once again.
The gold evangelist has long argued that the largest cryptocurrency is ill-suited for use as an investment or store-of-value asset due to its extreme volatility.
The investor has repeatedly asserted that Bitcoin's success is only due to speculation, while discounting its technological strengths.
He believes gold still has a much more reliable track record of staying power in terms of long-term investments.
Unsurprisingly, Schiff's predictions have been met with widespread skepticism since they are not exactly accurate. While Schiff did manage to predict a few bear cycles, his followers missed out on massive gains.
Despite discovering Bitcoin as early as in 2011, Schiff has spent years predicting the cryptocurrency's imminent demise.