Is crypto really going to be sold for a… frightening statement!
Stock markets around the world are facing a decline these days. The cryptocurrency market is also not spared from this decline. Even after the announcement of the Crypto Strategic Reserve by US President Donald Trump, there is volatility in bitcoin. Talking about the present time, the price of one bitcoin is around Rs 72 lakh, while in january its price was above 1 lakh dollars. In such a situation, an expert's statement that bitcoin will go for a pittance in the coming time is scaring people. Let us know what the whole matter is and which expert has increased the concern of bitcoin investors around the world.
Who made the prediction about bitcoin?
Big investor and financial expert Peter Schiff has said such a thing about bitcoin that people are afraid of this cryptocurrency. Schiff says that in the coming time, the price of bitcoin will fall to 20 thousand dollars. That is, the bitcoin which was once selling for one lakh dollars, will be forced to sell for 20 thousand dollars.
Why will the price of bitcoin fall?
Actually, Peter Schiff believes that the shares of American tech companies often fall when the decline in Nasdaq begins. He said that Nasdaq can fall by 12 percent now. This will have a huge impact on the prices of bitcoin. Apart from this, if Nasdaq goes down by 20 percent, then bitcoin will fall to 65 thousand dollars.
Nasdaq fell by 80%
Posting on his social media platform X, Schiff writes that when the dot-com bubble burst, the Nasdaq fell by 80 percent. Apart from this, during the financial crisis of 2008, the Nasdaq also fell by 55 percent. Whereas, in the year 2020, when the markets around the world fell due to Corona, the Nasdaq fell by about 30 percent. Referring to these declines, Schiff says that if we take their average, it comes to 55 percent and if Nasdaq falls by just 40 percent, then the price of bitcoin can go down to less than 20 thousand dollars.
