TechFlow News, June 30, economist and gold supporter Peter Schiff posted on X platform stating that the market generally considers Bitcoin falling to $20,000 "almost impossible," but this judgment lacks basis. Bitcoin fell below the $20,000 level about 3.5 years ago; this was not long ago, therefore the possibility of returning to this price range cannot be ruled out; it is not rare for assets to experience significant drawdowns within a short cycle in financial markets.
Peter Schiff further stated that since Bitcoin is more volatile than most stocks, a correction of similar magnitude is "completely reasonable" under changes in the macro or liquidity environment, and the market should not underestimate downside risk.
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