Collapse Warning: Peter Schiff Says $BTC Could Soon Drop to 75,000 USD

Peter Schiff, a well-known Bitcoin critic, has sounded the alarm about the future of this cryptocurrency, warning that it could soon fall to $75,000. His comments came after Bitcoin dropped below the $109,000 mark, a decline of 13% from its recent high. Schiff believes that Bitcoin no longer has upward momentum and is therefore susceptible to further declines and greater volatility in the coming weeks. Schiff's pessimistic predictions further highlight his concerns about Bitcoin's long-term performance, despite speculation about strong buying activity from institutions. For example, Strategy, a business analysis firm, recently purchased over 3,000 BTC, bringing the total to 632,450 BTC. However, Schiff believes that such institutional purchases are not enough to maintain Bitcoin's price, and it remains susceptible to further declines.

Schiff believes that the recent fall is a sign that a much larger decline is about to occur, with the next support level being 75,000 dollars. He added that Bitcoin investors should consider selling right now and buying back at a lower price when the asset hits the bottom. Schiff also noted that this decline could cause significant losses for companies like Strategy, which have hoarded Bitcoin at higher prices. Bitcoin Faces Increased Price Volatility as $75,000 Target Emerges While the trading volume of Bitcoin remains high, increasing by 11.65%, its price continues to fall. This asset was last traded at 110,313.15 USD, reflecting a decrease of 1.04% in the past 24 hours. Despite the increase in trading activity in the market, Schiff does not believe that institutional buying will stabilize the price of Bitcoin. Instead, he predicts an imminent collapse, pushing the cryptocurrency to a level of 75,000 dollars, the closest price recorded in April 2025. Schiff's warning serves as a reminder of the instability of the cryptocurrency market, with sudden price fluctuations always posing a threat to investors. As Bitcoin has recently fallen in price, there is always the risk that the price of Bitcoin will fall even deeper, and this poses a threat to many, including those who hold large amounts of this asset.