Economist Peter Schiff, long known as a vocal critic of Bitcoin and a strong supporter of gold, has renewed his bearish stance on the world’s largest cryptocurrency.
In a recent post, Schiff pointed out that Bitcoin has slipped below $109,000 — a drop of roughly 13% from its highs just two weeks ago.
He described the decline as troubling given the surge of institutional demand in recent months. According to Schiff, the price could tumble further, potentially testing levels as low as $75,000.
Doubts Over Institutional Impact
Schiff also questioned why Bitcoin is underperforming despite high-profile corporate purchases. “Dozens of companies are buying aggressively, yet the price is still 12% below its record,” he said, contrasting Bitcoin’s fall with gold’s flat performance and the NASDAQ’s relatively mild 1% dip over the same period.
A Rare Admission
In an unusual twist, Schiff admitted he was wrong about Bitcoin never surpassing $100,000 — a target it already breached. However, he maintained that the rally lacks staying power and suggested any rebound may be short-lived before another correction.
While Schiff has consistently dismissed Bitcoin as a long-term store of value, his latest comments underscore the persistent divide between gold advocates and crypto investors, especially as institutional players continue to accumulate BTC despite heightened volatility.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-price-outlook-economist-predicts-btc-crash-to-75000/