“Bitcoin Crashes To $20,000 If US Stocks Plunge?”
Economist and gold fanatic Peter Schiff has just issued a shocking warning: If the US Nasdaq falls into a bear market, the price of Bitcoin could plummet to $65,000 , or even $20,000 .
He said the Nasdaq was down 12%, and since Bitcoin is typically twice as volatile, its price would fall further if the Nasdaq lost another 20% of its value.
“History shows that bear markets tend to drag things down further,” Schiff wrote on X on March 16, citing crashes like the dot-com bubble or the 2008 crisis.
Schiff predicts that if Nasdaq drops 40% , Bitcoin will not only stop at $20,000 but could be worse due to a wave of sell-offs from ETFs and investors.
“At that point, there would be no reason for anyone to hold Bitcoin, including the US government or companies like Microstrategy,” he stressed.
In contrast, he boasted that gold – his “darling” – has increased 13% since the Nasdaq peak in December 2023, and could jump to $3,800 if the US dollar weakens.
Still, Schiff admitted that this was not a detailed analysis, just “a passing thought.” He argued that Bitcoin lacks the durability of gold, and if its price collapses, confidence in it will disappear.
Not everyone is pessimistic, however. Many experts remain optimistic: Tim Draper predicts Bitcoin will reach $250,000 by 2025, Tom Lee believes it will lead the market, and Standard Chartered dreams of $500,000 . Michael Saylor even sees $13 million by 2045.
The recent White House Cryptocurrency Conference, with President Trump’s commitment to a Bitcoin reserve, further bolstered investors’ hopes for a bright future.
