Famous economist Peter Schiff, nicknamed the “Gold Bug,” attracted attention with his Bitcoin (BTC) statement.
In his X post dated September 16, famous economist Peter Schiff made remarkable predictions by discussing the current technical outlook of Bitcoin.
Schiff noted that the Bitcoin chart is showing a triple top formation and predicted that the price could experience a serious drop within the framework of this pattern. According to Schiff’s analysis, the situation gets even worse when the current price of Bitcoin is evaluated in terms of gold.
Schiff noted that Bitcoin could fall to the ascending trendline at $42,000 in the short term, but that this level will not provide long-term support.
He stressed that a retest of longer-term support levels, namely $15,000–$20,000, is more likely. Schiff advised investors to be cautious and be prepared for a possible major decline.
According to CoinGecko data, Bitcoin, which has increased by 0.2% in the last 24 hours, is traded at $58,234 at the time of writing.
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