$BTC đșđžPeter Schiff's Frightening Prediction: Bitcoin Could Fall to This Levelâïžâïžâïž
đȘ Bitcoin has fallen below $58,000 again after exceeding $60,300 in the last 24 hours, triggering fears of a broader correction in crypto markets.
đȘ The US Federal Reserve's FOMC meeting this week is raising concerns among investors about a possible interest rate cut and the impact of this cut on the market.
đȘ In the meantime, Bitcoin critic Peter Schiff has warned that the cryptocurrency could fall to $20,000 or even lower.
đȘSchiff suggested that Bitcoin is on the verge of a major decline, pointing to a pattern that is generally seen as bearish, such as the cryptocurrency's "triple top" formation.
đȘAccording to Schiff, Bitcoin could fall below the rising trendline of around $42,000 and may not hold this level for a long time, potentially falling to the $15,000 to $20,000 range.
đȘ Schiff made a comparison between Bitcoin and precious metals, noting that silver recently exceeded $31 and gold set a new record at $2,586.
đȘ Schiff argued that calling Bitcoin âdigital goldâ or âdigital silverâ is unfair when compared to the performance of these metals.
đȘ Political uncertainties in the US and the possible interest rate cut by the Federal Reserve are causing more instability in the markets. In particular, events such as the assassination attempt on Donald Trump are negatively affecting market sentiment. Investors are acting cautiously due to these uncertainties.
đCould Schiff be right???
