Peter Schiff: This is the Reason Why Bitcoin Will Fall to $10,000

In the event of a sharp breakdown of the $30,000 level, it is “very likely” that the price will fall below $10,000, according to the forecast made by Peter Schiff.

He has launched on Twitter a survey to find out what tactics the owners of the asset will take in this situation. At the moment, more than 34,000 users have participated in it. Less than 20% of participants believe that quotes will not fall below $30,000.

At the same time, 54% of respondents intend to hold the asset. 15.5% of participants plan to follow Schiff’s advice: sell cryptocurrencies and later buy at a lower price. Only 10.5% are ready to get rid of Bitcoin now.

The investor has noted that he deliberately excluded the option of additional purchases of cryptocurrency on the fall. However, he believes that many hodlers will resort to it.