Peter Schiff questions optimistic BTC market expectations: Why is it impossible for $20,000 to reappear?

Odaily Planet Daily News Economist and gold advocate Peter Schiff stated in his latest comments that the market generally believes it is "almost impossible" for Bitcoin to fall to $20,000, but this judgment lacks basis.

Schiff pointed out that Bitcoin fell below the $20,000 level about 3.5 years ago, a period not far off, so the possibility of returning to that price range cannot be ruled out. Significant retracements in assets over short cycles are not uncommon in financial markets. He further stated that since Bitcoin has higher volatility compared to most stocks, a pullback of a similar magnitude is "entirely reasonable" under changes in macroeconomic or liquidity environments, and the market should not underestimate downside risks.