Bitcoin will no longer return to its historic high of $69,000, the cryptocurrency price will fall below $10,000, Chief Market Strategist at Euro Pacific Asset Management Peter Schiff is sure. In an interview with Kitco, he called the digital asset a “big fool’s scheme” that will inevitably fail.

“The market is going to go down. I think people should take advantage of the rally they have right now and get out. A lot of people still have profits in these tokens. They have to leave because otherwise, the market will take those profits,” Schiff warned.
In May, the investor claimed that the bitcoin rate broke the support line, so it is now heading towards $8k. At that time, the first cryptocurrency was trading at $30k, as of August 12, its price is $23.9k.

Peter Schiff is one of the most famous critics of the first cryptocurrency. In 2011, when BTC was around $1, he said that he would rather invest $10k in gold than in bitcoin, as it is unknown what will happen to it in a few years. Since then, the first cryptocurrency has gone up 2.3 million percent.

https://altcoin.ng/bitcoin-critic-peter-schiff-believes-bitcoin-will-drop-below-10000/

He might be correct this time.