Bitcoin (BTC), the world’s largest Cryptocurrency, emerged as the top artist in the past year. Kungmyntet managed to go from trading with a low at $ 49,121.24 all the way to its maximum time of $ 109,114.88. Crossing $ 100,000 brand was a prominent milestone for BTC investors. This made the whole world see the market in a different way. But BTC was seen fighting for a new correction. While the market adapts to the current downward trend of the asset, BTC was able to witness a new crash.
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Peter Schiff sees bitcoin crash with Nasdaq’s fall
“Nasdaq is reduced by 12%. If this correction turns out to be a bear market, and the correlation where a 12% decline in Nasdaq corresponds to a decrease of 24% in Bitcoin, when Nasdaq is down by 20%, Bitcoin will be about $ 65,000.“
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With reference to earlier crashes like the Dot-Com bubble, the financial crisis in 2008 and the 2020 Covid-19, Schiff disaster, warned that the bear markets usually result in large cases. According to his prediction, Bitcoin can see an even more serious decline if Nasdaq has a significant decline. Schiff warned that Bitcoin could sink significantly lower, but he predicted that a 40% decline in Nasdaq could bring it to $ 20K. He said that Gold had increased by 13% since Nasdaq’s peak in December 2023 and that in the event of a stock market melt and a decline in the value of the US dollar, it can amount to $ 3,800.
Nasdaq is reduced by 12%. If this correction turns out to be a bear market, and the correlation where a 12% decline in Nasdaq corresponds to a decrease of 24% in Bitcoin, when Nasdaq is down by 20%, Bitcoin will be about $ 65,000.
But if Nasdaq goes into a bear market, history …
– Peter Schiff (@Peterschiff) March 16, 2025
A look at the current market
At the time of writing, Bitcoin traded to $ 83,464.75. This comes after a monthly case of 14.38%. After the latest case, BTC is 23% during its highest time. A potential crash to $ 65,000 can get serious losses for BTC investors.
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