From Investing.com: 2024-04-15 08:30:25

Outspoken gold supporter Peter Schiff predicts Bitcoin could drop to $20,000 if it breaks $60,000 support level, impacting companies like MicroStrategy. However, Schiff’s track record on Bitcoin predictions is inconsistent, and market trends show institutional support post-Bitcoin ETF approval. MicroStrategy’s CEO remains bullish on Bitcoin despite market dips, emphasizing long-term strategy.

Bitcoin’s price volatility remains, but support levels at 50-day EMA ($58,000) and 200-day EMA ($49,900) offer strong backing. A recovery above $60,000 could dismiss Schiff’s triple top pattern, reviving bullish sentiment. Breaking recent highs at $67,500 signals market recovery and bullish sentiment returning to cryptocurrency market.

Read more at Investing.com: Peter Schiff Reveals Key Support Level for Bitcoin (BTC) By U.Today