Bitcoin (BTC) Bear Market Here, Warns Peter Schiff, and Here's Why
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 04 2024Peter Schiff's Critique of Bitcoin: Peter Schiff warns that Bitcoin is in a bear market, having dropped about 40% since its peak nearly three years ago, and suggests that investors may be ignoring market realities despite Bitcoin holding above the $60,000 support level.
Market Dynamics and Investor Sentiment: The performance of Bitcoin compared to gold highlights ongoing weaknesses, with key price points at $59,000 and $64,000 indicating potential bearish or bullish trends, respectively; institutional investors are nearing break-even points, raising concerns about possible sell-offs if prices decline.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
