Peter Schiff, a popular critic of Bitcoin and staunch advocate for Gold, has delved into the ongoing debate surrounding BTC’s valuation, predicting a potential downside pressure in the near future and setting his target at the $54,000 price level.
Bitcoin Continues To Face Downside Pressure
Earlier today, Schiff identified a negative pattern on the Bitcoin chart, indicating that the price of the cryptocurrency is likely to decline. He claims that the most recent examination of Bitcoin’s short-term chart demonstrates a shift in the attitudes of the market.
Schiff’s observation was made amid a background of elevated volatility and erratic sentiment, as Bitcoin has been moving in a downward direction over the last several days. The recent disclosure by the economist about the short-term downside objective of Bitcoin has garnered significant interest from the cryptocurrency community.
According to him, the pivotal $60,000, which was observed to be a support level on this
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