Bitcoin (BTC) price recently dropped below $110,000, providing popular critic Peter Schiff with the opportunity to give one of his pessimistic opinions. According to the economist, the price of the flagship cryptocurrency is headed for a bearish turn and may possibly reach $75,000 in no time.
Peter Schiff and His Pessimistic Bitcoin History
Peter Schiff is largely recognized for his negative statements about Bitcoin. He constantly discourages investors from investing their funds into the coin on the basis that it would crash. This time around, he has predicted that BTC will retreat to $75,000. Based on CoinMarketCap data, Bitcoin price is currently at $110,355.23, corresponding with a 1.16% dip in the last 24 hours.
This means that Schiff expects BTC to lose more than 31% of its current value. He claimed that the coin has already lost 13% from its high less than two weeks ago.
Bitcoin just dropped below $109K, down 13% from its high less than two weeks ago. Given all the
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