Peter Schiff predicted bitcoin to fall below $5000

The fall in the price of the first cryptocurrency by 70% of its peak values is not the end, and there is a significant risk of a further decline in quotations. This opinion was expressed by the president of Euro Pacific Capital Peter Schiff.

So the supporter of gold commented on the forecasts of experts from Standard Chartered. According to them, the collapse of FTX will continue to affect the mood of the cryptocurrency market, which will lead to a decrease in the price of digital gold to $ 5,000 in 2023.

In the following tweet, he urged investors “not to make the mistake” of thinking that the first cryptocurrency was forming a low of $17,000.