23 Nov Bitcoin May Drop to $1000, States Peter Schiff – BeInCrypto
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The Bitcoin price began November 22 with a rapid decrease, reaching lows of around $7000. It is currently inside a very significant support area — a breakdown below which could trigger an even more rapid price decrease.
Well-known financial commentator and CEO of Euro Pacific Capital Peter Schiff stated that the Bitcoin price has created a head and shoulders pattern and is currently at the neckline. A breakdown from this pattern would take it to $1000.
#Bitcoin is nearing the neckline of the head-and-shoulders top I pointed out before the Oct 25th 40% pump. The right shoulder is now shrugged and the neckline slanted and parallel to the shoulders. If it breaks the price objective for the dump is $1,000 to complete the pattern.
— Peter Schiff (@PeterSchiff) November 21, 2019
Schiff is a notable Bitcoin bear. However, his predictions have been wrong several times before — as noted in the graph below:
Gold vs Bitcoin@PeterSchiff pic.twitter.com/ps28twS0EG
— Crypto₿ull (@CryptoBull)…
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