Peter Schiff Says Bitcoin Could Slide to $75,000 After Breaking Below $80,000
Minseung Kang
Summary
- Peter Schiff, a prominent Bitcoin skeptic, said the risk of further losses has increased if Bitcoin falls below $80,000.
- Schiff said Bitcoin is likely headed for $75,000 after dropping below $80,000.
- He said that if the $75,000 level also fails to hold, the pressure could be especially heavy for exchange-traded fund (ETF) investors.
Forecast Trend Report by Period
Peter Schiff, a prominent Bitcoin skeptic, said the risk of further losses rises once Bitcoin falls below $80,000.
In a post on X on October 25, Schiff wrote that Bitcoin was "finally breaking down" and that it was "surprising it lasted this long."
With Bitcoin now below $80,000, the next stop is likely $75,000, he said. If it fails to hold the $75,000 level today, it could make for a very long weekend for Bitcoin investors.
He added that the pressure could be especially heavy for exchange-traded fund investors who cannot sell until Monday.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.