Schiff renews Bitcoin crash prediction

Economist and longtime gold supporter Peter Schiff has reiterated his bearish outlook on Bitcoin, predicting the cryptocurrency will fall below $20,000 as market volatility intensifies.

The warning came as Bitcoin slipped to around $65,700, prompting Schiff to argue that the digital asset remains vulnerable to a deep correction despite years of institutional adoption and market growth.

“I know Bitcoin has done that before, but never with so much hype, leverage, institutional ownership, and market cap at stake,”

Schiff said.

A decline to $20,000 would represent a drop of more than 80% from Bitcoin's recent trading levels and erase a substantial portion of gains accumulated during previous market cycles.

Schiff has consistently argued that Bitcoin's valuation is driven more by speculation than underlying fundamentals, while maintaining that gold remains a superior store of value during periods of inflation and economic uncertainty.

He has also criticised the growing number of companies adopting Bitcoin treasury strategies, describing the model as a “time bomb of speculation” that could trigger forced selling if market conditions deteriorate.

However, Bitcoin supporters note that Schiff has repeatedly forecast major collapses throughout the asset's history, with tracking sites documenting more than 20 failed crash predictions as Bitcoin recovered from previous downturns and reached new highs.

At the time of reporting, Bitcoin price was $67,139.78.