{"id":80719,"date":"2023-06-25T11:00:06","date_gmt":"2023-06-25T08:00:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80719"},"modified":"2025-09-11T18:39:00","modified_gmt":"2025-09-11T15:39:00","slug":"peter-schiff-forecasts-imminent-drop-in-bitcoin-price","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/peter-schiff-forecasts-imminent-drop-in-bitcoin-price\/","title":{"rendered":"Peter Schiff Forecasts Imminent Drop in Bitcoin Price"},"content":{"rendered":"<p>Peter Schiff, president of Euro Pacific Capital and Bitcoin critic, said there is &#8216;nothing lower-quality than cryptocurrencies&#8217;.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Until recently the rally in highly speculative assets excluded <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a>. Now that Bitcoin has finally joined the party, perhaps it\u2019s a sign that the party will soon end. Usually rallies end when the lowest quality stuff finally participates. There\u2019s no lower quality than <a href=\\\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\\\">#crypto<\/a>.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\\\"https:\/\/twitter.com\/PeterSchiff\/status\/1672276869981274112?ref_src=twsrc%5Etfw\\\">June 23, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\n<cite>\\&#8221;Until recently the rally in highly speculative assets excluded Bitcoin. Now that it has finally joined the party, it is likely to end soon,\\&#8221; he wrote.<\/cite><\/p><\/blockquote>\n<p>According to Schiff, such rallies usually end when the lowest-quality assets finally join in, such as digital assets.<\/p>\n<p>In March, the president of Euro Pacific Capital <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-urged-selling-bitcoin-amid-silvergate-bank-troubles\">called for selling the first cryptocurrency<\/a> and buying gold amid <a href=\"https:\/\/u1f987.com\/en\/news\/silvergate-to-liquidate-silvergate-bank\">Silvergate Bank\u2019s troubles<\/a>.<\/p>\n<p>In May Schiff <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-announces-nft-collection-on-bitcoin\">announced<\/a> his own collection of <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-nfts\">non-fungible tokens<\/a> based on Bitcoin.<\/p>\n<p>On June 23, Bitcoin traded above <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-breaks-through-31000-level\">$31,000<\/a>. The market capitalization of digital assets surpassed $1.2 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff, president of Euro Pacific Capital and Bitcoin critic, said there is &#8216;nothing lower-quality than cryptocurrencies&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":80720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1138,1298],"class_list":["post-80719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-opinions","tag-peter-schiff"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=80719"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80719\/revisions"}],"predecessor-version":[{"id":80721,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80719\/revisions\/80721"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/80720"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=80719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=80719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=80719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}