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Peter Schiff: "Bitcoin is ready to drop another 50%"

Schiff Gold president acknowledged owning Bitcoin

The cryptocurrency market is on a break after two days of drastic fluctuations – which saw Bitcoin collapse to an annual low of $ 2,700. BTC is currently trading around $ 5,500. Meanwhile, Peter Schiff makes a prediction that BTC will have another 50% decline.

For the second day in a row, Bitcoin is wavering around the $ 5,500 area. This is the time for investors to calm down, regain strength and recover after a bad correction.

Peter Schiff's anti-Bitcoin and gold advocate took this opportunity to point the finger at Bitcoin. Currently, the CEO of Euro Pacific Capital makes quite negative forecasts about the price of Bitcoin.

Prepare another 50% discount

Over the past few days, Bitcoin has lost about 50% of its value. While discussing gold on his Twitter, Peter Schiff made a prediction with a large scale decline. He thinks that BTC is about to have another 50% slump.

“#Bitcoin is ready for another 50% discount.”

Bitcoin price at 5,000 USD is an attractive buying point

In a recent tweet, cryptocurrency trader Luke Martin said that this is a good opportunity to buy many BTC. Those of you who still believe in the coin's long-term rise should buy BTc right now. However, he emphasized that this is not an investment advice.

"For an investment with a duration longer than 1 year, I think buying Bitcoin at $ 5,000 is extremely attractive.

Although that is not a financial advice from me. "

Regarding the price of Bitcoin, Martin said that statistically, the price of BTC in the future may be lower. That is why it is important to determine your vision before making any investment.

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According to BeInCrypto
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