Peter Schiff warns that Bitcoin may fall below $20000, stating that the market is far from bottoming out Peter Schiff, a supporter of gold and a long-term critic of Bitcoin, has recently stated that he believes there is an excessive optimism in the current Bitcoin market, and there is still a long way to go before it truly bottoms out. Schiff predicts that if Bitcoin falls below the $50000 mark, the price may quickly further drop below $20000, shaking the confidence of long-term holders (HODLers) and triggering a larger sell-off. Schiff also stated that the market needs to pay attention to whether the decline of Bitcoin will become a precursor to a broader risk asset adjustment. If the Bitcoin crash is limited to the cryptocurrency market, it may be due to industry factors; But if it synchronously affects risky assets such as stocks, it may mean that deeper macro risks are accumulating.