The well-known Bitcoin hater and gold bug, Peter Schiff, believes that Bitcoin will never make it to $200,000.
For Schiff, it is clear that Bitcoin will not experience a big increase.
Schiff has given an answer on Twitter to a question from the early adopter of Bitcoin and Ethereum, Davinci Jeremie. The question was about what price BTC will reach first. Is it the $2,000 or the $200,000.
Schiff said that the only goal that Bitcoin can ever reach is the $2,000 and the $200,000 will never happen.
Over the weekend, Schiff wrote his expectations regarding the further decline in the price of the two largest cryptocurrencies Bitcoin and Ethereum.
Schiff believes that both cryptocurrencies will continue to fall. Bitcoin, in his opinion, will probably fall to $ 20,000, and Ethereum will see the $ 1,000.
Should this actually happen, Schiff tweeted that the total market capitalization is likely to fall below $800 billion from the all-time high of $3 trillion. He advised traders and investors not to buy cryptocurrencies, including BTC and ETH, during the current slump.
Well-known veteran trader Peter Brand believes that another bullrun for Bitcoin will come in 2023 and a new all-time high could be seen in early 2024. So investors would have to wait two years for this event.