Why SchiffGold founder Peter Schiff gave signs of further downside for Bitcoin!

Economist and fund manager Peter Schiff has indicated further downside for Bitcoin. The founder of SchiffGold and the CEO of Euro Pacific Capital recently conducted a poll on Twitter that was related to bitcoin going down to $20,000. On the basis of this survey, Peter has explained why bitcoin may still fall further and it is not crossing the level of 20 thousand dollars.

Through his tweet, Peter said that it is obvious that there are many people buying bitcoin even under 20 thousand dollars. But, the number of investors selling bitcoin is far more than those who buy when it goes below $20,000. Regarding this, he conducted a poll with his followers.

So far 52.9% of the people in this poll have said that they would like to sell bitcoin below $20,000. So far 16,333 people have participated in the poll. This number is still increasing but the majority are people who do not want to keep bitcoins below $20,000. Peter has also made predictions about bitcoin’s bear run before. He made a similar prediction in June when the price of bitcoin fell. He then made a similar prediction for Bitcoin in August as well.

Talking about the current price of bitcoin, today its price was seeing a decline of 0.11% till the end of the day. At the time of writing the news, the price of bitcoin on the Indian exchange Coinswitch Kuber stood at Rs 16,15,484. The day before too, the price of bitcoin had registered a drop of 2.29%. Look at the trend of the past week The days of downtrends can be more numbered than corrections in the price of bitcoin. This indicates that there is not much upside expected.

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