Peter Schiff, Chief Economist, and Global Strategist shared a tweet from Standard Chartered (OTC: SCBFF) Bank that said Bitcoin would drop by 70% to $5,000. Schiff also said, while adding more information to the post, that BTC could drop even lower than $5,000.
Bitcoin has a lot more risk of going down than 70%. Bitcoin will still be way too expensive after such a drop, so $5,000 won’t even be close to the bottom. https://t.co/VGj6ZPuwvi
— Peter Schiff (@PeterSchiff) December 5, 2022
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Related: Forget about crypto winter; this is a “bloodbath” for bitcoin.
Peter Schiff says that Bitcoin has a lot more downside risk than 70%. This was first published in Coin Edition.
