U.Today – It looks like Bitcoin's future is heading towards a less optimistic path, at least according to its long-time critic Peter Schiff, who recently outlined a scenario that could push the top cryptocurrency into the $15,000-$20,000 range.
In a recent post on X, Schiff highlighted what he sees as a worrying chart pattern, describing it as a “triple top,” a formation he believes signals a potential decline. This suggests that “at the very least,” it may fall to the ascending trendline around $42,000 and not hold there for long. Schiff believes it is more likely that Bitcoin will retest long-term support levels around $20,000.
In his warning, the crypto critic also issued a grim counterpoint to Michael Saylor’s optimistic outlook, as Schiff’s comment signals a direct challenge to Saylor’s bullish stance, warning him to “watch the bottom.”
Having invested heavily in Bitcoin on behalf of his company, Saylor has been a key figure in pushing the narrative of Bitcoin as a long-term store of value.
One million dollars for Bitcoin: Schiff's vision
What’s more interesting is Schiff’s view that Bitcoin could one day hit $1 million, a goal championed by some of the cryptocurrency’s staunchest supporters. When asked by a follower to celebrate in Puerto Rico if BTC hit that mark, Schiff replied that such an event would only be possible if a drink there also cost $1 million.
This response, while cheerful, further reflects Schiff's deep skepticism of such radical projections and reinforces his belief that such extreme price forecasts are based on highly improbable conditions.
This article was originally published on U.Today
