Peter Schiff, a prominent Bitcoin critic, has sounded the alarm about the future of this cryptocurrency, warning that it could soon drop to $75,000. His commentary comes after Bitcoin fell below the $109,000 mark, down 13% from a recent high. Schiff believes that Bitcoin has lost its upward momentum and is therefore more susceptible to further declines and volatility in the coming weeks.

Schiff's pessimistic forecasts continue to underscore his concerns about Bitcoin's long-term performance, despite rumors of strong buying activity from institutions. For example, Strategy, a business analytics firm, recently purchased over 3,000 BTC, bringing the total to 632,450 BTC. However, Schiff believes that institutional buying is not enough to sustain Bitcoin's price, and it remains vulnerable to further declines.

Schiff believes that the recent decline is a sign that a larger downturn is imminent, with the next support level being $75,000. He added that Bitcoin investors should consider selling now and buying back at lower prices when the asset hits bottom. Schiff also noted that this decline could cause significant losses for companies like Strategy, which have accumulated Bitcoin at higher prices.

Bitcoin Faces Increased Volatility as $75,000 Price Target Looms

Although Bitcoin's trading volume remains high, increasing by 11.65%, its price continues to decline. The asset was ultimately traded at $110,313.15, reflecting a decrease of 1.04% in the past 24 hours.

Despite increased trading activity in the market, Schiff does not believe that institutional buying will stabilize Bitcoin's price. Instead, he predicts an imminent collapse, pushing this cryptocurrency down to $75,000, the closest price recorded in April 2025.

Schiff's warning is a reminder of the volatility of the cryptocurrency market, with sudden price fluctuations always threatening investors. Since Bitcoin recently declined, there is always a risk that the price of Bitcoin will drop further, and this is a threat to many, including those holding large amounts of this asset.

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