#CryptoRoundTableRemarks
"WHAT IS YOUR OPINION"
The worst outlook for Bitcoin (BTC) comes from several sources, including Bitcoin critics like Peter Schiff. Here are some key points:
- *Criticism from Peter Schiff*: Schiff states that Bitcoin is unstable and unreliable, and related financial products like Bitcoin ETFs have flaws due to their dependence on US market hours. This makes investors vulnerable if the market falls outside those hours.
- *Price Prediction*: Schiff warns that if Bitcoin falls below $60,000, it will trigger a "triple top" pattern that could lead to a price drop down to $20,000. This would also impact large institutional investors like MicroStrategy.
- *Risk of Loss*: Schiff estimates that a decline in Bitcoin's price to a certain level would result in an unrealized loss of $2.7 billion for MicroStrategy, which has purchased around 214,000 Bitcoin at an average price of $34,000.