TechFlow news, on March 17, economist and gold advocate Peter Schiff posted on X stating that if the Nasdaq index transitions from a correction into a bear market, Bitcoin's price could face a significant decline.
Schiff noted that with the current Nasdaq down 12%, if this correlation holds, a 20% drop in the Nasdaq would bring Bitcoin's price down to approximately $65,000. If the Nasdaq experiences a 40% decline, Bitcoin could fall to around $20,000—or even lower.
Peter Schiff pointed out that historically, bear markets typically result in much larger declines, citing precedents such as the dot-com bubble, the 2008 financial crisis, and the 2020 pandemic crash.
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