Analyst Peter Schiff has provided an update on his perspective.
Analyst and gold enthusiast Peter Schiff has made a new statement after the price of Bitcoin surpassed $57,000.
Schiff mentioned an old saying in the market that assets rise slowly like stairs and fall quickly like an elevator.
Applying this to Bitcoin, Schiff shared that Bitcoin is a little different, BTC rises like an elevator and jumps out of this elevator.
With this post, Schiff declares that although the growth rate of Bitcoin is very rapid, the decline will be sudden and much faster.
Recently, Schiff stated that he expects the price of BTC to decline even more as demand for Bitcoin Spot ETF decreases.