'Dream Came True': Schiff Reveals What's Next After $100,000 Bitcoin

U.Today - Banker, financial expert and noted cryptocurrency skeptic Peter Schiff was heavily quoted and in the spotlight yesterday. The reason? Schiff was reminded of his words that $100,000 for Bitcoin (BTC) is impossible, and anyone who believes in it can “keep dreaming." But here it is Dec. 6, 2024, and we have been living in the paradigm of a six-figure Bitcoin for 24 hours, and Peter Schiff has been fighting off everyone who tries to point out his incorrectness for 24 hours.

However, the expert did not keep silent either, and in response to one such barb, he said that “the dream has come true.” But he also said that the next one will be a “nightmare,” and all crypto enthusiasts and Bitcoin bulls should be “ready to toss and turn."

Nightmare?Interestingly, at these words from Schiff, what really happened was something that caused many crypto investors to break out in a cold sweat when the price of Bitcoin collapsed by almost 8% in just four minutes, going from $98,250 to $90,500 per BTC. Everything happened so fast that Peter Schiff did not even seem to have time to pay attention.

The main cryptocurrency was followed by the rest of the market in one proportion or another and, as a result, liquidations on derivatives on digital currencies reached an astronomical $875 million in 24 hours - one of the record highs for the year.

The spill was quickly redeemed and the price per BTC returned to around $100,000, but the damage in liquidated positions can no longer be recovered. The good news is that it has already happened, which means that the market will be free of such drastic disturbances for a while.

Source: Investing.com