Economist Peter Schiff Explains Why He Expects Bitcoin to Crash as Recession Deepens — Warns ‘Don’t Buy This Dip’

Economist Peter Schiff Explains Why He Expects Bitcoin to Crash as Recession Deepens — Warns ‘Don’t Buy This Dip’


Economist and gold bug Peter Schiff has made some dire predictions about cryptocurrency, particularly bitcoin and ether. He explained that “The need to sell bitcoin to pay the bills will only get worse as the recession deepens,” adding that bitcoin is poised to crash to $20K while ether will sink to $1K.

Peter Schiff Shares Future Outlook for Bitcoin, Ether, Crypto

Gold bug Peter Schiff, the chief economist and lead strategist at Euro Pacific Capital and founder of Schiffgold, has made some dire predictions about bitcoin, ether, and the crypto market in general.

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He tweeted Saturday:

Bitcoin looks poised to crash to $20K and ethereum to $1K … Don’t buy this dip. You’ll lose a lot more money.

Schiff further explained in several tweets Sunday:

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