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Peter Schiff Questions BTC Market Optimism: Why Can’t $20,000 Show Up Again?
Odaily Planet Daily News: Economist and gold advocate Peter Schiff said in his latest comments that the market generally believes it is "almost impossible" for Bitcoin to fall to $20k, but this judgment lacks evidence.
Schiff pointed out that Bitcoin broke below the $20k level about 3.5 years ago, which is not a distant time, so the possibility of returning to that price range cannot be ruled out. Significant pullbacks in assets over short cycles are not uncommon in financial markets. He further stated that since Bitcoin is more volatile than most stocks, a pullback of similar magnitude is "completely reasonable" under changes in macroeconomic or liquidity conditions, and the market should not underestimate the downside risk.