Bitcoin (BTC), world’s biggest cryptocurrency, has been the most successful in 2018. King coin went from a price as low as $49,121.24 up to an all-time peak of $109114.88. The $100,000 milestone was an important one for BTC. The entire world viewed the market differently. BTC, however, was struggling after the recent correction. BTC is likely to experience another crash as the market adjusts itself to BTC’s downtrend.
You may also like: De-dollarization and the Digital Currency Battle: Why Gold-Backed Stablecoins Could Replace the USD
Peter Schiff Predicts Bitcoin’s Crash With Nasdaq’s Fall
According to Peter Schiff, a Nasdaq drop could have a significant impact on the price of Bitcoin. Gold advocate Peter Schiff has issued a dire forecast about the future of the king’s coin. Schiff said to X,
“The NASDAQ is down 12%. If this correction turns out to be a bear market, and the correlation where a 12% decline in the NASDAQ equates to a 24% decline in bitcoin holds, when the NASDAQ is down 20%, bitcoin will be about $65K.“
You may also like: Binance Declares 0% Trading Fees on Wallet Until September 2025
Schiff cited past crashes like the Dot-com boom, the 2008 financial crises, and the COVID-19 catastrophe in 2020 as examples of bear markets that typically lead to large drops. Schiff predicted that Bitcoin could see a more significant drop if Nasdaq had a major decline. Schiff warned that Bitcoin could fall much lower but predicted that the Nasdaq would drop by 40% and bring it up to $20K. Schiff said gold has increased by 13% from the Nasdaq peak in December 2023. He also predicted that it could reach $3800 in case of stock market collapse and US dollar value decline.
The NASDAQ has fallen 12%. This correction could be a downturn. If the correlation holds that a 12% drop in the NASDAQ equates with a 24% fall in Bitcoin, then when the NASDAQ drops 20%, Bitcoin is about $65,000.
But if the NASDAQ goes into a bear market, history…
— Peter Schiff (@PeterSchiff) March 16, 2025
You may also like: Time To Exit Stocks? New Gold Prediction Claims XAU To Hit $4000
Current Market Trends
Bitcoin traded at $83,464.75. The drop in value is a result of a 14.38% monthly decline. BTC is now trading 23% lower than its previous high. BTC investors could suffer grave losses if the asset crashes to $65,000.
You may also like: Pi Coin Set for 50% Surge: Coinbase Listing Rumors Ignite Investor Interest
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
