Right on cue, Peter Schiff, a prominent cryptocurrency critic, has come out to bash Bitcoin (BTC). This time, the prominent libertarian investor has suggested that the leading crypto asset is preparing to drop by upwards of 80% to $1,000.<\/p>\n
More specifically, Schiff said that Bitcoin is nearing the neckline of a head and shoulders chart pattern, which suggests that if it’s broken, a measured move to $1,000 will be had.<\/p>\n
\n#Bitcoin<\/a> is nearing the neckline of the head-and-shoulders top I pointed out before the Oct 25th 40% pump. The right shoulder is now shrugged and the neckline slanted and parallel to the shoulders. If it breaks the price objective for the dump is $1,000 to complete the pattern.<\/p>\n
— Peter Schiff (@PeterSchiff) November 21, 2019<\/a><\/p><\/blockquote>\n