Peter Schiff Sees Possible Bitcoin Breakdown Toward $20K

Bitcoin critic Peter Schiff said in a post on X that Bitcoin’s current market conditions appear overly calm, suggesting the asset may still be far from reaching a bottom.

He further noted that a break below the $50,000 level could accelerate losses, potentially pushing the price down toward $20,000. He added that such a drop might undermine confidence among long-term holders and prompt some investors to exit their positions.

Source: Peter Schiff