Bitcoin To Fall Below $18K? Gold Bug Peter Schiff’s Prediction

Sahana Kiran
Source – Global Crypto

Bitcoin and its latest rally over $21K came as a shock to many. Gold proponent, Peter Schiff, however, topped this list. Just a couple of days ago, Schiff urged investors to sell their Bitcoin as the king coin hit $19K by calling it a “better opportunity to sell.” Now, as BTC is on an upward trajectory, Schiff was back with a new prediction.

Earlier today, a Twitter user called out Schiff for his advice. But, the gold bug seemed unwavering as he noted how Bitcoin could tumble below $18K in no time. He tweeted,

“That was good advice. Bitcoin will be well below $18K”

Time and again, Schiff has put forth a rather bearish forecast for Bitcoin. Negating its growth, Peter Schiff dismissed BTC as a speculative asset. He claims that, despite the common perception that Bitcoin has some intrinsic value beyond merely speculative demand, nobody actually knows what gives it its value.

It should be noted that the persistence of the latest rally was questioned by many.

Despite Bitcoin’s latest pump, a wide majority of analysts were looking for a possible healthy correction that may occur.

Team Bullish Bitcoin

Prominent cryptocurrency YouTuber, Ben Armstrong, well known as “BitBoy”, shared his thoughts on Bitcoin’s next move. He cautioned the community by asking them not to get too “comfortable” just yet. Armstrong stated on Twitter that Bitcoin’s price may jump to $25,000 or perhaps $30,000 in around 45 days, or it may do so a bit more quickly or slowly.

SkyBridge Capital’s Anthony Scaramucci also made headlines earlier today for his BTC prediction. In the short term, Scaramucci hopes to see BTC hit the $35K level. However, in the next two to three years, the king coin may rise to $50K or even go up to $100K, according to him.

PlanB, who previously assumed the latest pump was a bull trap, pointed out that it could be the beginning of the upcoming bull run.

At press time, Bitcoin was trading for $21,237 with a 1.98% daily plummet.