Peter Schiff predicts bitcoin to go below $2k – Bitcoin Price News

The Euro Capital CEO Peter Schiff has predicted that the price of the leading cryptocurrency will go below $2,000. Schiff is known in the crypto community for criticizing bitcoin. However, several other trend analysts have also predicted that it is likely bitcoin will retract to $6,000 in the short term.

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CEO of Euro Pacific Capital, Peter Schiff, believes that the price of bitcoin is heading towards a massive crash. He tweeted that The Bitcoin chart looks horrible. Not only does the flag that followed the recent breakdown project a move to $6K, but we are close to completing the right shoulder of a head and shoulders top, with a $14K head, and the neckline just below $8K, that projects a collapse to below $2K, he added.

Crypto community was quick to dismiss Peter Schiff’s claims of bitcoin dropping to $2,000. Several called out him for spreading FUD. However, several analysts have predicted a bearish run for leading cryptocurrency in the short term. But for Peter’s prediction to come true bitcoin would have to fall 90% from its all-time high.

Later last month when the price of bitcoin fell from $9,500 to $8,000 in just a few hours, Peter Schiff tweeted that it will further retract to $ 4,000 in just a few weeks, so far bitcoin has managed to hover around $8,000 mark.

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Malaki Braydon
Malaki Braydon
Braydon has been into the crypto and blockchain space from the past 7 years. Based in New York City, Braydon has completed his masters from Kingsborough Community College.

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