Bitcoin critic Schiff describes a scenario for BTC to fall to $ 2,000

Bitcoin financial expert and critic Peter Schiff believes the technical picture of bitcoin looks “terrible.” A bear flag indicates a chance of falling to $ 6,000, according to his analysis.

The Bitcoin chart looks horrible. Not only does the flag that followed the recent breakdown project a move to $ 6K, but we are close to completing the right shoulder of a head and shoulders top, with a $ 14K head, and neck line just below $ 8K, that projects a collapse to below $ 2K!

– Peter Schiff (@PeterSchiff) October 19, 2019

He is sure that soon the head and shoulders model will form on the chart. Moreover, the head, in his opinion, is at $ 14,000, and the neck is slightly below $ 8,000, which supposedly indicates the likelihood of a further fall to $ 2000.

Trader WhalePanda immediately invited Schiff to open a short position with a 100x leverage on BitMEX.

Hi Peter, how about putting some skin in the game? You can short Bitcoin 100x with this link https://t.co/eXT6r4V9ow
You're going to have to use a VPN though since well US, North Korea, Syria, Iran and other countries like this are banned.

– WhalePanda (@WhalePanda) October 19, 2019

“You will have to use a VPN because access is limited for users from the USA, Syria, North Korea, Iran and other similar countries,” WhalePanda did not hide his sarcasm.

Schiff and Morgan Creek Digital co-founder Anthony Pompliano also argued over whose podcast to listen to. At the same time, Schiff called the opponent warned.

If by real you mean completely biased, self-serving pumping than yes, read “off the chain.” But if you don't want to be left holding the Bitcoin bag, try listening to my podcast instead.

– Peter Schiff (@PeterSchiff) October 19, 2019

One Twitter user added that such a severe fall would be a good opportunity, which Schiff criticized:

“Do you really think that a 90% drop – from 20 thousand to 2 thousand – looks like a good opportunity? For whom? Smart investors will realize that with the same ease, bitcoin could lose another 90% and drop to $ 200. "

Do you really think that if the price of Bitcoin drops by 90%, from $ 20K down to $ 2K, that it will look like a bargain? To whom? Smarter investors will recognize that it can just as easily drop another 90%, from $ 2,000 to $ 200.

– Peter Schiff (@PeterSchiff) October 19, 2019

Schiff said earlier that Bitcoin failed the test for a defensive asset, and Tom Lee from Fundstrat agreed with him.

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