Peter Schiff: Bitcoin Will Eventually Reach $0, But Not Right Away

• Economist Peter Schiff believes that the price of Bitcoin will eventually fall to $0.
• Other analysts have made more optimistic predictions, such as William Noble’s prediction for a bull run and Tim Draper’s prediction of BTC reaching $200K by 2023.
• Schiff thinks that all cryptocurrencies and companies with crypto-based stocks are going to experience major dips in 2023, and there could be an increase in bankruptcies in the crypto space.

Peter Schiff Predicts Bitcoin Will Eventually Be Worth Nothing

Economist Peter Schiff is confident that the price of bitcoin could eventually fall to $0. He stated in a recent interview that this process won’t happen right away, but instead it could be long and drawn out. This is a big step away from the more bullish analyses we’ve been receiving lately.

Optimistic Predictions From Other Analysts

Earlier today, we published an article talking about William Noble, who famously predicted that bitcoin would endure a bull run in 2020 and 2021 that would ultimately see it rise from the low $20K range to the $40K range… He was right. In his latest prediction, Noble is confident that bitcoin could reach $56,000 in the next few months. Tim Draper also feels BTC could end 2023 at a price of more than $200K – much higher than Schiff’s prediction of eventual worthlessness for Bitcoin.

Schiff’s Gloomy Prediction

Despite these optimistic predictions from other analysts, Schiff has doled out his usual gloom and doom sentiment regarding Bitcoin’s future value: he said that despite small bounces experienced in January and February of this year, this year isn’t likely to be any different from 2022; he believes all cryptocurrencies and companies with crypto-based stocks are going to take massive dips again; he predicts there will be an increase in bankruptcies among blockchain companies; and he thinks bitcoins ultimate value will eventually amount to nothing – no matter how long it takes for this process to unfold over time.

Are There Any Reasons To Hope?

While some analysts have made bold predictions regarding Bitcoin’s future growth based on its past performance or trends they’ve observed on current markets, none can predict with absolute certainty what direction prices will go in since cryptocurrency markets are highly volatile and unpredictable. Therefore it is entirely possible, if not likely, that both positive & negative forecasts will come true – depending on which direction markets move & when they make their moves!

Conclusion

In conclusion, Peter Schiff’s prediction may or may not come true depending on how cryptocurrency markets move over time – but one thing we can always rely on him for is negative sentiment!