Bitcoin has plummeted in price: an expert predicts a crash to $20,000

Economist and crypto skeptic Peter Schiff has warned of the risk of a new, large-scale Bitcoin collapse. In his opinion, the price of the first cryptocurrency could fall below $20,000. The expert believes that the $50,000 mark remains a key level for Bitcoin. If it is breached, the decline could accelerate, leading to a deeper correction. In that case, Schiff believes, some long-term holders of the digital asset may begin selling their holdings.

Schiff’s concerns arose amid the recent crypto market downturn. Last week, Bitcoin fell below $60,000 for the first time since October 2024, reaching $59,101. However, by June 9, 2026, the asset had partially recovered and is trading around $62,500. Over the past seven days, BTC has lost nearly 13% of its value. Compared to the all-time high of $126,000 reached in October 2025, the price has roughly halved.

Along with the leading cryptocurrency, altcoins also declined: Solana fell by 18.6%, Ethereum by 16%, and Dogecoin by 14,3%. The Crypto Fear and Greed Index stands at 15 points, indicating a zone of extreme fear among investors.

Several factors are putting pressure on the market. These include capital outflows from spot Bitcoin ETFs (exchange-traded funds), rising geopolitical tensions following the latest exchange of blows between the U.S. and Iran, as well as investor concerns over the sale of a portion of Bitcoin by Strategy, which had previously been actively accumulating the leading cryptocurrency and supporting market demand.

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