• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown
Bitcoin

Peter Schiff Discloses Downside Target For Bitcoin, Downtrend Imminent?

Godspower Owie
by Godspower Owie
1 year ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Peter Schiff, a popular critic of Bitcoin and staunch advocate for Gold, has delved into the ongoing debate surrounding BTC’s valuation, predicting a potential downside pressure in the near future and setting his target at the $54,000 price level.

Bitcoin Continues To Face Downside Pressure

Earlier today, Schiff identified a negative pattern on the Bitcoin chart, indicating that the price of the cryptocurrency is likely to decline. He claims that the most recent examination of Bitcoin’s short-term chart demonstrates a shift in the attitudes of the market.

Schiff’s observation was made amid a background of elevated volatility and erratic sentiment, as Bitcoin has been moving in a downward direction over the last several days. The recent disclosure by the economist about the short-term downside objective of Bitcoin has garnered significant interest from the cryptocurrency community.

Related Reading: Crypto Analyst Who Predicted Bitcoin Crash Below $57,000 Reveals Next Target

According to him, the pivotal $60,000, which was observed to be a support level on this shorter-term BTC chart, has turned into a resistance level. As a result, Schiff suggests a negative change in trend due to a short-term head-and-shoulders pattern appearing on the Bitcoin chart. 

With the neckline just below $57,000, Schiff highlighted that the head lingers around $60,000, while the shoulder is situated around $58,500. Thus, he has placed his downside target for Bitcoin at the $54,000 level in the short term.

Bitcoin
Potential decline to $54,000 | Source: Peter Schiff on X

Schiff also voiced concerns about the lack of discussion about the largest cryptocurrency asset from the American business news channel CNBC, following a decrease in Bitcoin Spot Exchange-Traded Funds (ETFs) in the past few days.

Over the past two days, the BTC Spot ETFs have fallen by more than 10%, closing below their market high by about 23%, but yet neither the products nor BTC were talked about by the news channel in the timeframe. Meanwhile, should the Spot BTC ETFs have increased by 10%, the digital asset would have been covered all day.

Peter Schiff has consistently attacked BTC over time. Earlier this month, the economist declared that buyers of BTC Spot ETFs will soon begin to pull out as the market’s volatility overwhelms them.

Given that the coin’s long-term bear market is starting to gather up steam once more, Schiff claims all of the new investors in the funds will be riding along with the wave, prompting his confidence that these investors will bail out soon.

BTC In The Bear Market, Party Is Over

As the market continues to fluctuate, the gold advocate addressed the current state of BTC, noting that the digital asset is in a bear market, despite all the excitement surrounding the spot ETFs.

Related Reading: Is Peter Schiff Right? Bitcoin ETF Approval Hype May Lead To Market Disappointment

“Turn out the lights HODLers, the party is over,” he said, claiming that one BTC is currently worth less than 25 ounces, up by 33% in comparison to gold, and down by 23% in the US dollars.

Bitcoin
BTC trading at $57,761 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Godspower Owie

Godspower Owie

Follow

Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

Full Profile

Related Posts

Bitcoin

Bitcoin Options Market Sees Bullish Shift: Calls Lifted In $136K–$145K Range

3 hours ago
bitcoin

MARA Boosts Bitcoin Reserves By 373 BTC In September, Surpasses $6 Billion In Holdings

11 hours ago
Bitcoin

Bitcoin Jumps To $120K, Catapulting Strategy’s Holdings To Record $77.4 Billion

1 day ago
Bitcoin

Bitcoin As The New Battleground—Sweden Signals Interest In Joining The Race

1 day ago
Tether wzmacnia rezerwy, kupując BTC warte miliard dolarów

Tether wzmacnia rezerwy, kupując BTC warte miliard dolarów

3 days ago
Binance bitcoin

Binance Founder Triggers Bitcoin Bull Run Expectations With Cryptic Tweet

3 days ago

Premium Sponsors

Press Releases

  • The Quiet Market Shift Investors Might Be Missing: How Tapzi Is Challenging Institutional Favorites

    The Quiet Market Shift Investors Might Be Missing: How...

    1 day ago
  • Investors Search for Long-Term Upside in This Under-$0.01 Crypto of 2025 Tapzi

    Investors Search for Long-Term Upside in This Under-$0.01...

    1 day ago
  • MoonBull Presale Explodes with over 11,800% Projected ROI as Uptober Sends the Market Soaring

    MoonBull Presale Explodes with over 11,800% Projected ROI...

    1 day ago
  • 狗狗幣引領『Uptober』Meme...

    1 day ago
  • ตัวละคร Snorter ขนฟูโต้คลื่นบนเซิร์ฟบอร์ดสีชมพู

    จับตา Uptober!...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.