Long-time crypto skeptic Peter Schiff has renewed his warning about Bitcoin outlook, cautioning investors that further downside could emerge if market conditions deteriorate.
Key Points
- Schiff warns that a decisive break below $50,000 could trigger accelerated selling for Bitcoin.
- He projects that sustained pressure might push Bitcoin down to $20,000, an 84% decline from its October all-time high above $126,000.
- Schiff is the most frequent critic of Bitcoin, with at least 22 public predictions of its collapse recorded since 2010.
- He has made over 200 bearish statements on Bitcoin since 2011, consistently questioning its intrinsic value and long-term viability.
Schiff Flags $50K as Key Risk Level
In a post published Thursday on X, Schiff said a decisive break below the $50,000 level could trigger accelerated selling. He suggested that, under sustained pressure, Bitcoin might ultimately revisit $20,000. This would represent an 84% decline from its all-time high above $126,000 reached in October.
When asked to explain the technical basis for this projection, Schiff did not cite specific indicators. Instead, he emphasized Bitcoin’s inherent volatility, pointing to its history of steep rallies followed by sharp corrections as evidence of structural instability.
Despite his warning, Bitcoin demonstrated near-term resilience. As of Friday morning, it was trading at $68,134, up 1.5% over the previous 24 hours.
But every time Bitcoin makes a new high, pumpers claim that type of volatility is a thing of the past. Then after the crash they say, well that’s just how Bitcoin works. Volatility is a feature, not a bug.
— Peter Schiff (@PeterSchiff) February 19, 2026
History of Bearish Calls
Schiff’s latest comments align with his long-standing criticism of digital assets. Indeed, he has consistently questioned Bitcoin’s intrinsic value and long-term viability since its early years.
The website Bitcoin Deaths, which catalogues public declarations of Bitcoin’s demise since 2010, identifies Schiff as its most frequent critic. Specifically, the platform records at least 22 instances in which he predicted the cryptocurrency’s collapse.
Other prominent skeptics include Warren Buffett, Steve Hanke, Nouriel Roubini, and JPMorgan CEO Jamie Dimon.
Additionally, data compiled by CryptoPotato shows that Schiff has made more than 200 bearish statements since 2011. His earliest public caution dates back to June of that year. During a radio broadcast, he argued that Bitcoin lacked intrinsic value and could ultimately become worthless.
Taken together, these records illustrate a consistent pattern in Schiff’s outlook.
Debate Over Institutional Influence
While Schiff attributes potential downside risks to rising hype, leverage, and institutional participation, other analysts interpret these developments differently.
In Schiff’s assessment, greater institutional exposure could intensify losses during a downturn. He believes larger positions and borrowed capital may amplify volatility.
Conversely, some market observers argue that institutional involvement has strengthened the ecosystem. They point to deeper liquidity and regulated custody solutions as stabilizing factors. In their view, structural demand today is more robust than during the crypto downturns of 2018 and 2022.
This divide highlights an ongoing debate over whether mainstream adoption increases fragility or resilience.
Bullish Projections and Legislative Watch
While Schiff remains cautious, several major financial institutions maintain optimistic forecasts. Both Bernstein and Standard Chartered have reaffirmed their year-end Bitcoin price target of $150,000, even as the asset consolidates below $70,000.
Meanwhile, traders are closely watching progress on the proposed CLARITY Act, which many believe could provide regulatory certainty and unlock further institutional inflows. Proponents argue that clearer rules may catalyze renewed upward momentum.
For now, Bitcoin remains at a pivotal juncture. Schiff warns that a breakdown below key support levels could trigger a steep correction. At the same time, major financial institutions continue to project significant upside, underscoring the stark divide in expectations surrounding the world’s largest cryptocurrency.
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