Why did Peter Schiff, the founder of SchiffGold, signal that Bitcoin will fall further?


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So far in the poll, 52.9% of people have said that they would prefer to sell Bitcoin below $20,000. 16,333 people have participated in the poll so far. This number is still growing, but the majority are people who don’t want to keep Bitcoin below $20,000.

Economist and fund manager Peter Schiff has indicated further downside for Bitcoin. The founder of SchiffGold and CEO of Euro Pacific Capital recently conducted a poll on Twitter regarding Bitcoin’s $20,000 drop. Based on this survey, Peter has explained why Bitcoin may fall further and is not crossing the $20,000 level.

Through his tweet, Peter said that it is clear that there are many buyers of Bitcoin even under $20,000. However, when Bitcoin goes below $20,000, the number of investors who sell Bitcoin is more than the number of investors who buy it. For this he conducted a poll with his followers.

So far in this poll, 52.9% of people have said that they would prefer to sell Bitcoin below $20,000. 16,333 people have participated in the poll so far. This number is still growing, but the majority are people who don’t want to keep Bitcoin below $20,000. Peter has previously made predictions about Bitcoin’s bear run. He made a similar prediction in June when the price of Bitcoin fell. After that, he made a similar prediction for Bitcoin in August as well.

Talking about the current price of Bitcoin, today its price was witnessing a decline of 0.11% by the end of the day. At the time of writing, the price of Bitcoin on Indian exchange CoinSwitch Kuber was Rs 16,15,484. A day ago also, the price of Bitcoin fell by 2.29%. Looking at the trend of the last week, the days of decline in the price of Bitcoin can be counted more than the improvement. This indicates that it is not expected to rise much.


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