September 27, 2020

Bitcoin critic Schiff describes a scenario for BTC to drop to $ 2000

Bitcoin financial expert and critic Peter Schiff believes the technical picture of bitcoin looks like "Terrible." A bear flag indicates a chance of falling to $ 6,000, according to his analysis.

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He is sure that soon the chart will formhead and shoulders model. Moreover, the head, in his opinion, is at $ 14,000, and the neck is slightly below $ 8,000, which supposedly indicates the likelihood of a further fall to $ 2000.

Trader WhalePanda immediately invited Schiff to open a short position with a 100x leverage on BitMEX.

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“You will have to use a VPN because access is limited for users from the USA, Syria, North Korea, Iran and other similar countries”- WhalePanda did not hide his sarcasm.

Schiff and Morgan Creek Digital co-founder Anthony Pompliano also argued over whose podcast to listen to. At the same time, Schiff called the opponent warned.

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One Twitter user added that such a severe fall would be a good opportunity, which Schiff criticized:

“Do you really think that a 90% drop -from 20 thousand to 2 thousand - looks like a good opportunity? For whom? Smart investors will realize that with the same ease, bitcoin could lose another 90% and drop to $ 200. "

Schiff said earlier that Bitcoin failed the test for a defensive asset, and Tom Lee from Fundstrat agreed with him.