📉 Peter Schiff’s BTC Doom Prophecy: $75K Next?! Spoiler: He’s Been Wrong Before 🔮

by

Oh, the horror! The absolute horror! 🚨 Economist and professional Bitcoin scold Peter Schiff has declared that BTC’s 13% tumble to $109K is a “sign of weakness”! As if the crypto goblins needed another reason to snack on popcorn while Schiff scribbles doomsday equations on a napkin. 📉

Market Context and Recent Price Action

Picture this, dear reader: Peter Schiff, the man who once bet his socks that Bitcoin would *never* breach $100K (spoiler: it did 🙃), now claims the “sky is falling” at $109K. He’s forecasting a plunge to $75K-below the average cost of those pesky MicroStrategy nerds. Because nothing says “financial genius” like repeatedly betting against a digital gold rush. 💸

On Aug. 26, Schiff took to X (formerly Twitter, but let’s not dwell on that drama 🐦) to urge BTC holders to “sell now and buy lower later.” His timing? Flawless! Just minutes after BTC dipped to $108,717-the lowest since July 9. A masterstroke of clairvoyance, or a lucky coin toss? You decide. 🪙

Enter the Producer Price Index (PPI), that sneaky little data point that sent BTC into a tizzy. Sure, Powell’s dovish chirps at Jackson Hole sparked a rally to $118K, but it fizzled faster than a soda left open overnight. Markets: 1, Hope: 0. 🥤

Schiff’s gloom has critics giggling like hyenas 🦀. One Twitter sleuth noted, “Peter Schiff, who’s called 100 of the last 2 Bitcoin crashes, now warns BTC could crash to $75K. In 2018, he said $3,800 was imminent. Incredible.” Said no one ever at a party. 🎉

But fear not, hodlers! Crypto Birb, the feathered oracle of Twitter, insists this bull run has 55 days left. Peak? Somewhere between Halloween and Thanksgiving. Because nothing says “trust me” like a handle involving a bird. 🦜

Read More

2025-08-27 01:08