Peter Schiff: If Bitcoin falls below $50,000, it could quickly drop to $16,500

Odaily reports: BTC critic, gold advocate, and economist Peter Schiff posted on X platform stating that Bitcoin's downward momentum is intensifying, and if it breaks below the $50,000 mark, the decline could accelerate further, potentially dropping rapidly below the 2022 low of $16,500. He expects that Bitcoin may not rule out retesting this level before the end of the year.

Peter Schiff further stated that if the above scenario occurs, Strategy (MSTR) will face a severe impact and could even be "completely finished."