U.S. economist and gold advocate Peter Schiff has warned that Bitcoin’s (BTC) decline could accelerate if the cryptocurrency breaks below $50,000.
According to Schiff, such a move could trigger a rapid drop toward its 2022 cycle low of under $16,500 before year-end.
Such a collapse would prove catastrophic for Strategy (NASDAQ: MSTR), the largest corporate Bitcoin holder, Schiff said in an X post on November 14.
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Notably, Schiff has criticized Bitcoin for more than a decade, arguing that it lacks gold’s reliability as a store of value and relies heavily on speculative demand. He has also repeatedly questioned corporate Bitcoin accumulation strategies, particularly that of Strategy.
The company has accumulated more than 850,000 BTC at an average purchase price of approximately $75,000 per coin. With Bitcoin trading below that level, its holdings are sitting on substantial unrealized losses.
Schiff has argued that Strategy’s reliance on Bitcoin appreciation, leverage and equity dilution exposes shareholders to significant risks, particularly during prolonged market downturns.
Why Bitcoin price is crashing
His warning comes as Bitcoin traded near $67,000 after falling from above $80,000 earlier in November and extending its decline from an October 2025 all-time high above $126,000.
The cryptocurrency has recorded consecutive weekly losses and recently breached the $70,000 psychological support level, reaching its weakest levels since August.
The sell-off has been driven by institutional outflows, leveraged liquidations, and mounting macroeconomic concerns. U.S. spot Bitcoin exchange-traded funds (ETFs) have recorded sustained withdrawals, with cumulative outflows exceeding $1 billion over short periods, removing a key source of buying pressure.
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Meanwhile, leveraged liquidations have accelerated the decline, wiping out more than $850 million to $1.2 billion in crypto positions during some single-day events, mostly bullish bets.
Higher-than-expected inflation has also increased expectations of a potential Federal Reserve rate hike in December, strengthening the dollar and pushing Treasury yields higher.
At the same time, Bitcoin’s correlation with technology stocks has added to the pressure, as concerns over artificial intelligence valuations have weighed on risk assets.
Bitcoin price analysis
At press time, Bitcoin was trading at $67,220, significantly below both its 50-day and 200-day simple moving averages (SMAs), which stood at $80,618 and $73,085, respectively.
Trading below both averages reinforces the bearish outlook, with the 50-day SMA also sitting above the 200-day SMA, reflecting sustained downward momentum.
Meanwhile, the 14-day relative strength index (RSI) stood at 24.85, firmly within oversold territory. This suggests that selling pressure has intensified and Bitcoin could be approaching a point of exhaustion, potentially allowing for a short-term relief bounce.
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However, unless the price recovers the $73,085 200-day SMA, the broader technical outlook remains bearish.
Featured image via Shutterstock
