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Bitcoin News Alerts | Daily BTC News

956: PETER SCHIFF PREDICTS MASSIVE BITCOIN CRASH AS RECESSION DEEPENS - WARNS DON’T BUY THIS DIP!!

Bitcoin News Alerts | Daily BTC News

Bitcoin News Alerts

Investing, Education, News, Business, Tech News

3.6626 Ratings

🗓️ 13 June 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

Economist and gold bug Peter Schiff has made some dire predictions about crypto, particularly Bitcoin and Ethereum. He explained that “The need to sell Bitcoin to pay the bills will only get worse as the recession deepens,” adding that the king cryptocurrency (BTC) is poised to crash to $20K while Ether will sink to $1K. "With Bitcoin dropping below key support at $25K and Ethereum below 1300, the combined market cap of nearly 20K cryptos has broken below $1 trillion, from a record-high of $3 trillion. That's $2 trillion down, $1 trillion left to go. The last trillion will be the most painful." Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:29.7

In today's show, Bitcoin passes 23,800, May low, as the crypto market cap drops under a trillion dollars.

0:36.8

I'll be breaking down the latest

0:37.6

technical analysis quoting credible crypto. Here's your smart money since our wave three peak at

0:42.6

$65,000. They have increased their Bitcoin holdings from approximately $11 million to over $13 million.

0:48.7

This is a reaccumulation range, not distribution. Look at the comments below. Most say they must be

0:53.7

selling or they already sold. Nah,

0:55.7

the data doesn't lie. According to rec capital, Bitcoin data science shows that the sub $35,000

1:00.9

is an area that has historically yielded outsized ROI for long-term investors. Another way

1:06.3

looking at this, capitulation began at $35,000. With Bitcoin now at 24,000, capitulation is getting closer to its end than beginning.

1:15.8

And quoting Plan B, the reason why you're not buying at this generational opportunity level is the same reason you did not sell at $60,000.

1:23.1

Greed and fear. Greed because you think that you can time the absolute bottom, fear, because you think

1:27.9

it can drop further, forget about the tops and bottoms, focus on strategy. Including Dan Held,

1:33.4

we wouldn't need Bitcoin if we can trust banks, people, and the government, but we can't. That's

1:38.0

why we need. Plan B. Also in today's show, old Bitcoin mining rigs are at risk of being shut

1:43.1

down after the Bitcoin price

1:44.4

slips under $24,000. I'll be sharing this latest list of shutdown prices in which crypto mining

1:50.1

machines will have to shut down due to lack of profitability. Also in today's show, Ethereum

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