RATE Group | Bitcoin Price May Buck Bull Trend & Fall by 75% to $2,000: Peter Schiff
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Bitcoin Price May Buck Bull Trend & Fall by 75% to $2,000: Peter Schiff

19 Oct Bitcoin Price May Buck Bull Trend & Fall by 75% to $2,000: Peter Schiff

Posted at 10:07h in Bitcoin News by

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It isn’t a secret that Bitcoin (BTC) hasn’t been doing too well as of late. While the cryptocurrency is up 100% on the year, it is down some 45% from the year-to-date high of $14,000.

Related Reading: Bitcoin Now the World’s Eleventh Largest Money Supply

This dramatic drawdown from $14,000 to as low as $7,700 has led many optimists to claim that Bitcoin will soon restart its surge to fresh all-time highs. Yet, a prominent cryptocurrency skeptic claims that BTC’s chart is “look[ing] horrible,” citing technical analysis indicators. Ouch.

Bitcoin Price Chart “Horrible”

If you’ve followed cryptocurrency on Twitter at all over the past few years, you’ve likely noticed the cynics, the haters of Bitcoin and its ilk.

One of the most prominent members of these groups is Peter Schiff, a prominent libertarian economist and investor whose father vehemently taxation. While some may see him as an archetypal cryptocurrency holder and lover of decentralized digital money, he…

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