Peter Schiff predicted Bitcoin fall to $ 10,000

The famous supporter of the investment in gold Peter Schiff once again criticized the flagship cryptoactive. According to him, Bitcoin is torn off from fundamental values, despite its short -term popularity. He believes that already that year his value may fall up to $ 10,000.

Such a point of view once again emphasizes the gap in the perception of bitcoin and traditional investment assets. A particularly bright trend is manifested against the background of the fact that more and more young market participants prefer to invest in cryptocurrencies.

Given the fact that now there is uncertainty on the market, this may encourage investors to invest in more conservative assets, including gold. And Peter Schiff’s rhetoric suggests that in the near future this trend may intensify. The specialist also believes that at the long -term distance, Bitcoin will increasingly be instructed.

At the same time, gold has retained its value for thousands of years. Expert believes: by itself Bitcoin It is relied exclusively on the psychology of bidders, as well as the ratio between demand and supply. And such a trend makes any cryptocurrency more vulnerable to unforeseen market fluctuations.

Peter Schiff believes that the most critical moment may be a sharp drop in prices. And if Bitcoin quotes are adjusted to $ 10,000, this will mean that its cost will collapse by 95% relative to the historical maximum.

However, not all experts share the opinion of Peter Schiff. Many note that it has long predicted the collapse of the flagship crypto acting, but at a long distance it continues to grow rapidly. Moreover, from the point of view of bull market dynamics, he overtook a considerable percentage of traditional stock assets.

Author

Andrey Alexandrov