U.S. economist warns a Bitcoin crash to $75k ‘is in play’
Economist and well-known cryptocurrency skeptic Peter Schiff has once again expressed a negative outlook on Bitcoin (BTC). In a social media post on Tuesday, August 26, Schiff warned that the “digital gold” could fall as low as $75,000. The financial commentator further urged investors to exit positions now and re-enter at lower levels, arguing in the comments that “selling now and buying back lower beats just riding it all the way down.” “Bitcoin just dropped below $109K, down 13% from its high less than two weeks ago. Given all the hype and corporate buying, this weakness should be cause for concern. At a minimum, a decline to about $75K is in play, just below MSTR’s average cost. Sell now and buy back lower.” — Peter Schiff Bitcoin just dropped below $109K, down 13% from its high less than two weeks ago. Given all the hype and corporate buying, this weakness should be cause for concern. At a minimum, a decline to about $75K is in play, just below...