Renowned Bitcoin commentator Peter Schiff claimed on the social media platform X that the largest cryptocurrency is now in a “bear market”.
Jiowa
Speech
With a sharp decline
Bitcoin
58,890 on the 24th to 2 US dollars, the lowest price since the 2nd of XNUMX. Last week has been challenging for the leading cryptocurrency, with a massive outflow of funds from the US spot exchange-traded fund (ETF), as well as macroeconomic uncertainty and recent other bearish factors.
Sale
By the German government.
Read more:
Bitcoin ETF outflows for 7 consecutive days
On Monday, when Mt. Gox, the famous cryptocurrency exchange, was hacked in 2014,
announced
, payments will begin in July. Schiff expects the price of Bitcoin to drop “much more”
, even before the mountain. Gox repays the assets owed to users.
Despite a drop of more than 20% from historical highs, Schiff believes that the price adjustment is far from over. “The bear is still young,” he pointed out.
Peter Schiff Cryptocurrency Currently in Bear Market 