Peter Schiff expects a BTC flash crash below $30,000
On Saturday, big-name Bitcoin critic and CEO of Euro Pacific Capital Peter Schiff tweeted that he expected the flagship cryptocurrency to breaks below the $30,000 level. After that, according to his tweet a day before, the biggest digital currency may even revisit the $10,000 area.Director of crypto assets at VanEck investment fund Gabor Gurbacs, although a Bitcoin proponent, shared a similar expectation on Saturday.should it break below $30,200. However, the good news in his view is that there is plenty of liquid finance held by financial institutions looking to invest in it.
Since a lot of them have missed the BTC rally from $10,000 to the $68,800 level, Gurbacs believes, this huge amount of dry power may well go into Bitcoin. The reasons for that are that central banks around the world have been printing a lot of cash, the current high level of inflation and lack of trust in bonds obvious to many investors.At the time of writing, the leading crypto keeps going down, now changing hands at $34,941, having dropped another 1.
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