RATE Group | Bitcoin Price Now at ‘High Risk’ of $4,000 or Lower
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Bitcoin Price Now at ‘High Risk’ of $4,000 or Lower

25 Sep Bitcoin Price Now at ‘High Risk’ of $4,000 or Lower

Posted at 07:38h in Bitcoin News by

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Bitcoin (BTC) price is heading to $4,000 after breaking support to trigger a sudden bear market, says one of its most prominent critics.

Gold bug pounces on Bitcoin price drop

In a tweet on Sept. 24, gold bug Peter Schiff returned to bashing Bitcoin as it fell from $9,700 to a low of $7,990 in hours. 

Subsequently correcting to circle $8,500, the recovery was not enough for Schiff, who claimed the shedding of $1,800 was just the start.

“Bitcoin has finally broken below the support line of the large descending triangle it has been carving out for months. This is a very a bearish technical pattern, and it confirms that a major top has been established,” he wrote.

Schiff continued:

“The risk is high for a rapid descent down to $4,000 or lower!”

Schiff appears to suggest $4K is support

Bitcoin proponents are used to Schiff’s criticism. In recent months, several spats have seen the gold investor attempt to prove Bitcoin’s inferiority, especially in relation to the precious…

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