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Expert affirms that Bitcoin “is about to crash”

Economist Peter Schiff claims that if the price of Bitcoin falls below $30,000 (it already has), it could continue to plunge to $10,000.

The last few days have been negative for the performance of Bitcoin at the value level, since the historical maximum that it reached in November 2021, and which placed it near $69,000, looks increasingly distant.

Only in the last two days it fell dramatically and, until Wednesday afternoon, it was even worth below $30,000, a value that worries the market that bases its profits on speculation on the price of the same crypto asset.

It may interest you: Bitcoin price continues to plummet and falls to $28,711

Given this, various experts on the subject, such as the economist Peter Schiff, quoted by the Infobae newspaper, have predicted increasingly dark scenarios for cryptocurrency.

Schiff assures that “Bitcoin is about to crash”, this is because if its value falls below $30,000, something that has already happened, the next fall will make it reach $10,000.

For this reason, the expert also pointed out that investors in this virtual currency must make decisions without panicking, due to the amount of money they could lose in the event of a crash.

Also: Criminals steal phones to access the cryptocurrencies of their victims in the United Kingdom

As part of the reasons behind this resounding fall in the price of cryptocurrency is the increasingly close relationship that the behavior of its value has with the traditional stock markets in the world, which have recently been influenced by the measures of the US government to contain inflation.

“Sell while you can. Don’t say I didn’t warn you,” says Schiff as a clear reference to the scenario that awaits Bitcoin holders who could experience millionaire losses if the price continues to fall.

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