Peter Schiff Predicts Further Bitcoin Plunge Ahead of Mt Gox Payouts — Declares BTC in Official Bear Market
Economist and gold advocate Peter Schiff has highlighted bitcoin’s recent decline, declaring the cryptocurrency “back in official bear market territory.” He predicts further bitcoin price decline before Mt. Gox creditors begin receiving their crypto payouts next month.

Bitcoin Back in ‘Official Bear Market Territory’
Economist and gold bug Peter Schiff, known for his skepticism towards bitcoin, has taken to social media platform X to spotlight BTC’s recent decline. On Monday, Schiff wrote about BTC as the price of the cryptocurrency briefly dropped below $59K, stating:

It’s back in official bear market territory, down over 20% from its record high.