Bitcoin and the larger Cryptocurrency market crashed over the weekend and fell to a low of $ 110,000, while Ethereum fell to $ 3,600. The market crashed when Trump announced 100% customs on all Chinese products into the United States. Trump’s statement triggered large -scale sales and traders started profit bookings.
The development caused the US stock market to bleed on Friday’s trading session. Dow Jones was down 878 points, while Nasdaq fell 820 points. The S&P 500 index dipped 183 points and Bitcoin and Ethereum spiraled against the red. However, both BTC and ETH have recovered on Monday and reached $ 115,300 and $ 4,75 respectively.
Peter Schiff predicts bitcoin can crash to $ 75,000 & Ethereum to $ 1,500
Leading economist and gold strategist Peter Schiff has warned that Bitcoin and Ethereum could erase all winnings. He warned that the rally would soon end, which led to large carnage in the Cryptocurrency market.
Peter Schiff has long predicted that Bitcoin and Ethereum would face a terrible fate. While some of his forecasts have proven to be correct, others have missed the point. Schiff also stated that Michael Saylor’s micro strategy (MRST) would face the biggest losses when BTC crashes to the $ 75,000 level.
“Crypto Carnage Continues. Bitcoin is Below $ 110,000, and Ethereum is Below $ 3,700. IF ETHEREUM CRACKS $ 3,350, IT CRADE CRASH TO $ 1,500, Nearly 70% Below Its Record High. IF That Happens, Bitcoin Could Sin Sin Sin Sin Sin Sittk WIPING OUT ALL OF MSTR’s Paper Gains, ” Peter Schiff wrote on X.
The leading economist also emphasized that the majority of his predictions have proven to be correct. “I’ve been right with most things than has happened in the last decade. You just don’t realize that yet. In fact, my exact forecasts are how many people own bitcoin,” Peter Schiff summarized it on his prediction by Bitcoin and Ethereum.
