Peter Schiff again predicted the fall of bitcoin to $ 10,000

Bitcoin is unlikely to reach new maximums, but rather continue to fall to $ 10,000 and below. This is the President of the Euro Pacific Capital Peter Schiff said in an interview with Kitco News.

According to him, the current growth of the cryptocurrency market, including 70% of the rise in the price of Ethereum since the beginning of July, is not sustainable. He called him “rally suckers”.

“The market will fall. I think people should use the rally that is now and leave. Many still arrived in these tokens. Someone bought bitcoin four, five, six years ago and he was in a good plus. The same with Ethereum. People should leave, because otherwise the market will take this profit, ”the supporter of gold believes.

Schiff confirmed his opinion that the crypto is in the bubble, despite the fall in bitcoin prices by about 65% of the maximums. Those who have time to get out of it will win, the investor emphasized Gagarin News .

According to him, the market drop in this year was a consequence of the implementation of the large -scale PUMP scheme & DUMP.

“There were celebrities, like athletes or actors who signed up for the promotion of a coin to their Instagram subscribers, for example. It was a massive pumping, but people do not notice it, ”he said.

Recall that in early May, Shift predicted the fall of bitcoin by $ 10,000 in case of a sharp break in the level of $ 30,000.

After the failure of May 11, the quotes below the indicated mark, he suggested that the price would test $ 8000.

Digital gold was traded near $ 30,000 for about a month before leaving below $ 23,000. Against this background, Schiff updated the forecast for the Bitcoin bottom, paying attention to the support level of $ 5000.

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