Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13105
Markets: 101189
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino
Market Cap
24h Vol
13105
Cryptocurrencies
60.37%
Bitcoin Share
BitcoinSistemi 2025-03-17 11:48:08

Could Bitcoin (BTC) Drop to $20,000 Again? Peter Schiff Said "Yes" and Explained Why!

Could Bitcoin (BTC) Drop to $20,000 Again? Peter Schiff Said "Yes" and Explained Why!

As Bitcoin has fallen below $80,000 in recent weeks, expectations for further declines have also increased. At this point, gold advocate and Bitcoin hater Peter Schiff claimed that the Bitcoin price could fall to $20,000 if the Nasdaq enters a bear market. $20,000 on the Table in Bitcoin Again! As Bitcoin price struggles to clear the $84,000 resistance on the upside, bearish expectations for BTC are increasing. Amid the sharp correction that the U.S. stock market has experienced over the past few weeks, the Nasdaq is down 12%. Popular economist Peter Schiff said that things could get worse for BTC if this correction slides further into a bear market and he believes that the BTC price could fall to as low as $20,000 if the Nasdaq corrects 40% from its peak and enters a bear market. Noting that the Bitcoin price and the Nasdaq have a historical correlation, Schiff said that a 12% Nasdaq drop usually equates to a 24% drop in Bitcoin, which could take BTC down to around $65,000. Citing historical data on this point, Schiff noted that the Nasdaq fell by about 80% during the dot-com bubble, 55% during the 2008 financial crisis and 30% during the 2020 COVID crash. Considering that there could be an average drop of 55%, Schiff argued that even a 40% drop in the Nasdaq index could push the BTC price down to $20,000. “The Nasdaq is down 12%. If this correction turns out to be a bear market and the correlation holds that a 12% drop in the Nasdaq equals a 24% drop in Bitcoin, then when the Nasdaq is down 20%, Bitcoin will be around $65,000. But if the Nasdaq enters a bear market, history suggests the decline will be much larger. The Nasdaq fell nearly 80% after the dot-com bubble burst. It fell 55% during the 2008 Global Financial Crisis and fell nearly 30% during the COVID crash of 2020. The average of these three bear markets is a 55% drop. If this bear market bottoms out with just a 40% drop, that would take Bitcoin to around $20,000. But my guess is that a drop of that magnitude would send Bitcoin crashing much lower.” https://twitter.com/PeterSchiff/status/1901253662178939352 *This is not investment advice. Continue Reading: Could Bitcoin (BTC) Drop to $20,000 Again? Peter Schiff Said "Yes" and Explained Why!

Most Read News

Market Cap
24h Vol
60.37%
Bitcoin Share
18
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.