Peter Schiff: BTC has a real chance of dropping to $20K

The possibility of Bitcoin's price falling to $20,000 is not low, according to noted Bitcoin skeptic Peter Schiff, CEO of Euro Pacific Capital. He questioned why Bitcoin holders would consider such a price drop unlikely, pointing out that BTC was trading below that level just three and a half years ago. Schiff drew a parallel to the stock market, arguing that three and a half years is not a long time for an asset. He added that it is not uncommon for stocks to hit new lows over such a period, a scenario he believes is even more plausible for Bitcoin given its higher volatility compared to most equities.