Can Bitcoin (BTC) fall back to $ 20,000 again? Peter Schiff said “yes”, explained why!

Bitcoin In recent weeks, the decrease in the fall of 80 thousand dollars, while the expectation of more decrease has increased.

at this point Peter Schiff, a gold defender and Bitcoin enemy, Nasdaq claimed that the price of Bitcoin could fall up to $ 20,000 if it enters the market market.

20 thousand dollars in Bitcoin is on the table again!

Bitcoin price is difficult to overcome $ 84,000 in the upward direction, while the expectation of a decrease for BTC is increasing.

In the midst of the hard correction in the US stock market market for the last few weeks, Nasdaq 12 %fell.

Popular Economist Peter Schiff said he believed that if this correction shifts to the bear market even more, BTC can deteriorate for BTC, and if Nasdaq enters the bear market by making 40 %correction from the summit, the price of BTC may fall up to 20,000 dollars.

Bitcoin price and NasdaqStating that it has a historical correlation, Schiff said that a 12 %NASDAQ decline usually corresponds to a decrease of 24 %in Bitcoin and that it could reduce the BTC to approximately $ 65,000.

At this point, Schiff referred to historical data, said that Nasdaq fell approximately 80 %during the Dot-Com balloon, 55 %and 2020 COVID collapse during the 2008 financial crisis.

Considering that there may be an average decrease of 55 %, Schiff, even a 40 %decrease in the Nasdaq index BTC He argued that it could reduce its price to $ 20,000.

“Nasdaq has dropped 12 %. If this correction is found to be a bear market and the 12 %decrease in NASDAQ is equal to the decrease in a 24 %decrease in Bitcoin, Bitcoin will be about $ 65,000 when NASDAQ decreases 20 %.

However, if Nasdaq enters the market market, history shows that the decline will be much larger.

After the explosion of the Dot-Com the balloon, Nasdaq fell almost 80 %. During the 2008 global financial crisis, it fell 55 %and fell approximately 30 %during the COVID collapse in 2020.

The average of these three -month market decreased by 55 %. If this bear market decreases only 40 %, it will take Bitcoin to approximately $ 20,000. But my guess is that a decline of this size will lead Bitcoin’s collapse to much lower levels. ”

The NASDAQ is down 12%. If this correction turns out to be a bear market, and the correlation where a 12% decline in the NASDAQ equates to a 24% decline in Bitcoin holds, when the NASDAQ is down 20%, Bitcoin will be about $65K.

But if the NASDAQ goes into a bear market, history…

— Peter Schiff (@PeterSchiff) March 16, 2025

*It is not an investment advice.