Peter Schiff: If NASDAQ enters a bear market, BTC may fall below $65,000
In a ChainCatcher message, economist and gold supporter Peter Schiff posted on X saying that if the Nasdaq index turns from adjustment to bear market, Bitcoin prices may face a severe drop.
Schiff stated that the current Nasdaq has fallen by 12%, and if this correlation continues, when the Nasdaq falls by 20%, Bitcoin's price will drop to about $65,000. If the Nasdaq experiences a 40% decline, Bitcoin could fall to around $20,000 or even lower. Peter Schiff pointed out that historically bear markets usually bring larger declines, citing precedents such as the internet bubble burst, the 2008 financial crisis and the collapse due to COVID-19 in 2020.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ - Australia's EVT stock rises due to first-quarter EBITDA growth
UK Consumer Confidence Collapses to "Brexit-Level" Lows: Plunges 11 Points in October, Holiday Retailers on Red Alert
UK consumer confidence plummeted in October as soaring fuel prices made households acutely feel the cost of living impact stemming from the Middle East conflict.
$40 billion in bond issuance with a maximum interest rate of 8.3%! SpaceX (SPCX.US) AI gamble also exposes the “funding winter” for AI infrastructure
According to media reports citing sources familiar with the matter, SpaceX is preparing to complete a debt issuance totaling $40 billion, with an interest rate significantly higher than previous borrowing costs, reflecting growing investor concerns over financing for artificial intelligence (AI) infrastructure.
Crypto prices
More
