Peter Schiff warns of Bitcoin's potential drop to $50,000 amid market concerns. Trump's policies and a cyber attack on Bybit contribute to the price decline.
Following a significant drop in the price of Bitcoin (BTC) from its peak of $109,350 in January to below $84,000, Peter Schiff, a prominent Bitcoin critic, predicted that this digital currency could drop to $50,000. Schiff believes that Donald Trump’s economic policies to support cryptocurrency enthusiasts were the main factor driving Bitcoin to over $100,000. Meanwhile, a cyber attack on the Bybit exchange linked to the malicious Safe{Wallet} wallet code has added to market concerns. Technical analysis indicates that Bitcoin is under pressure below the 50-day moving average at $91,600.
