{"id":105388,"date":"2025-10-16T19:25:31","date_gmt":"2025-10-16T19:25:31","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=105388"},"modified":"2025-10-16T19:25:31","modified_gmt":"2025-10-16T19:25:31","slug":"bitcoin-price-slips-below-108000-peter-schiff-anticipates-brutal-bear-market-cz-responds","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=105388","title":{"rendered":"Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates \u2018Brutal\u2019 Bear Market, CZ Responds"},"content":{"rendered":"

The Bitcoin price continues to face challenges as the cryptocurrency has resumed its downtrend, struggling to maintain momentum above the $115,000 mark. This price point has proven to be a significant resistance level in the short term.\u00a0<\/p>\n

Amid these fluctuations, Bitcoin skeptic Peter Schiff took to social media platform X (formerly Twitter) to declare, \u201cGold is eating Bitcoin\u2019s lunch.\u201d\u00a0<\/p>\n

Schiff Calls For HODLers To Sell \u2018Fool\u2019s Gold<\/h2>\n

In his post, Schiff highlighted that Bitcoin has experienced a 32% decline when priced in gold since its peak in August, predicting a \u201cbrutal\u201d bear market ahead. Schiff urged HODLers to reconsider their investments, suggesting they sell their \u201cfool\u2019s gold\u201d and invest in the tangible asset of gold instead, or risk financial ruin.<\/p>\n

In response <\/a>to Schiff\u2019s assertions, Changpeng Zhao, the former CEO of Binance, offered a sarcastic retort. He noted, \u201c We should have listened to him, two months ago, out of the 16 years in bitcoin\u2019s existence. About 1% of the time.\u201d<\/p>\n

Zhao reminded followers that Bitcoin has surged from a mere $0.004 to approximately $110,000 USD over the years, underscoring the cryptocurrency\u2019s long-term potential despite current challenges.<\/p>\n

Expert Predicts Positive October For Bitcoin\u00a0<\/h2>\n

Schiff has continued to voice his skepticism about Bitcoin\u2019s viability as a substitute for the US dollar or as \u201cdigital gold.\u201d He argues that many HODLers are in denial about the realities of the market, a mindset he believes will lead to significant losses.<\/p>\n

Contrasting Schiff\u2019s bearish outlook, experts like Timothy Peterson have offered a more optimistic perspective. Peterson\u2019s updated AI forecast<\/a> for Bitcoin, suggests there is still a 75% probability that October could be a positive month for Bitcoin, with the potential for prices to close above $114,000.<\/p>\n

As of this writing, the market\u2019s leading cryptocurrency is trading at approximately $108,280, having dipped toward $107,500 earlier on Thursday. It currently stands 13% below all-time high levels.\u00a0<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

The Bitcoin price continues to face challenges as the cryptocurrency has resumed its downtrend, struggling to maintain momentum above the $115,000 mark. This price point has proven to be a significant resistance level in the short term.\u00a0 Amid these fluctuations, Bitcoin skeptic Peter Schiff took to social media platform X (formerly Twitter) to declare, \u201cGold […]<\/p>\n","protected":false},"author":0,"featured_media":105389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-105388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/105388"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=105388"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/105388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/105389"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=105388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=105388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=105388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}