Peter Schiff believes that the price of Bitcoin is going to slide to $54,000 in the short term
According to the gold bug, Bitcoin has formed a bearish head and shoulders pattern, with the"neckline" of the pattern being just below $57,000. shows that the flagship cryptocurrency is currently trading at $57,770 after previously sinking to an intraday low of $56,637. The cryptocurrency has been under strong bearish pressure over the past week due to disastrous exchange-traded fund outflows.
Bitcoin recently recorded its worst month since mid-2023, and it seems like the flagship cryptocurrency is on track to record another month in the red unless it manages to reverse course. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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