Economist Peter Schiff: If the Nasdaq enters a bear market, Bitcoin could fall below $65,000

Peter Schiff, an economist and gold supporter, said in X that if the Nasdaq index turns from a correction to a bear market, the price of bitcoin could face a serious decline. Schiff said that if this correlation continues, the price of bitcoin will fall to about $65,000 if the Nasdaq falls by 20%, and if the Nasdaq experiences a 40% decline, bitcoin could fall to about $20,000 or even lower. Peter Schiff points out that historically, bear markets have typically led to larger declines, citing precedents such as the dot-com bubble, the 2008 financial crisis, and the 2020 COVID crash.