Is Peter Schiff's Bitcoin bearish call worth listening to?

The renowned economist Peter Schiff is back with another Bitcoin prediction, and this time he’s calling for a potential slide to $75,000. Given that Bitcoin recently traded around $109,000 before pulling back 13%, Schiff’s forecast doesn’t sound completely far-fetched on the surface. However, what makes this call particularly interesting is the context: Schiff is essentially betting on BTC retreating all the way down to MicroStrategy’s average acquisition cost.

The Track Record Question

Here’s where it gets tricky. Schiff openly acknowledged that he was wrong about his previous Bitcoin won’t-break-$100,000 prediction. The cryptocurrency did exceed that level, yet he’s now suggesting history could repeat itself. This creates an obvious tension in his thesis. If Bitcoin surprised him once, what guarantees this prediction lands differently? Market participants should weigh this historical misstep carefully.

Current Market Signals

With Bitcoin now trading at $87.58K according to latest data, we’re already in the correction zone Schiff warned about. The 13% decline from recent highs raises legitimate questions about momentum. Yet correlating corporate buying behavior with individual trader sentiment tells an incomplete story about where the market is headed. Real-time price action often diverges from expert commentary.

The Strategic Angle

Schiff’s recommendation to holders—sell now, buy back lower—assumes a level of market timing precision that most traders struggle with. While $75,000 represents a meaningful support level coinciding with institutional cost bases, betting the entire position on a specific price target has burned many investors before.

The bottom line: Schiff’s perspective adds one more voice to the growing debate about Bitcoin’s trajectory, but his mixed prediction history suggests taking any single forecast with appropriate caution.