Bitcoin Price Could Plummet to $20,000 if Nasdaq Enters a ‘Bear’ Market, Says Peter Schiff!

Jakarta, Pintu News—Amidst the uncertainty of the US stock market experiencing a sharp correction, the price of Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- struggling to break through the $84,000 resistance has further fueled fears of a decline.

Renowned economist Peter Schiff predicts that if the Nasdaq index enters a bear market with a 40% correction from its peak, the Bitcoin (BTC) price could freefall to $20,000.

Check out the full analysis below!

Correlation between Nasdaq Decline and Bitcoin Price

In recent weeks, the NASDAQ index has seen a 12% decline, sparking anxiety among investors. Peter Schiff, an economist who often criticizes Bitcoin (BTC), thinks that if this decline continues into a bear market, the impact on Bitcoin (BTC) could be severe.

According to him, the sharp drop in the Nasdaq could be an early indicator of an even deeper drop in the price of Bitcoin (BTC). Schiff emphasized that this link between the stock market and Bitcoin (BTC) shows that economic instability can affect all assets, including cryptocurrencies.

Also read: Ripple (XRP) Launches New Trademark, a Breakthrough in the Crypto Industry!

Gold’s Negative Correlation with Nasdaq

In contrast to Bitcoin (BTC), gold negatively correlates with the NASDAQ. Since the NASDAQ peaked on December 16, 2023, gold prices rose by 13%, showing an opposite relationship.

This confirms gold’s position as a ‘safe-haven’ amid market uncertainty. Meanwhile, Bitcoin (BTC), often referred to as “digital gold,” seems unable to maintain its stable value in volatile market conditions, according to Schiff’s analysis.

Read also: Antam Gold Price Update per Gram March 18, 2025: Up IDR 4,000, Touch IDR 1,745,000!

Schiff’s Prediction on the US Bitcoin Reserve Plan

Peter Schiff also predicted that the difference in value between gold and Bitcoin (BTC) could destabilize Bitcoin (BTC)’s status as a digital gold alternative. He argued that this could prompt governments or ETF investors to reduce or even stop plans to hold Bitcoin (BTC) in their reserves.

Schiff added that confidence in Bitcoin (BTC) as a reserve asset might diminish if gold continues to show better stability amid market uncertainty.

Conclusion

With constantly changing market conditions and analysis from various experts, investors are expected to constantly monitor market developments and diversify investments. While predictions about the price of Bitcoin (BTC) can vary widely, it is important to consider all the factors that can affect the crypto market and other assets.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Bitcoin Price Crash to $20K Possible if Nasdaq Enters Bear Market, Says Peter Schiff. Accessed on March 18, 2025
• Featured Image: Generated by AI