Peter Schiff Questions BTC Market Optimism: Why Could $20,000 Not Happen Again?

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

Schiff pointed out that Bitcoin fell below the $20,000 level about 3.5 years ago, a period not so distant that the possibility of returning to that price range can be ruled out. Significant pullbacks within relatively short cycles are not uncommon in financial markets. He further noted that because Bitcoin is more volatile than most stocks, a correction of similar magnitude is "completely reasonable" under changes in macroeconomic or liquidity environments, and the market should not underestimate the downside risk.