Bitcoin’s weekend price action added another chapter to the long-running Peter Schiff contrarian story. After BTC fell to a five-week low near $79,000 on Saturday, Schiff posted on X that Bitcoin is finally breaking down and predicted a slide to $75,000. He also warned it would be a very long weekend for Bitcoiners, especially for ETF investors who can’t sell until Monday.
The expected breakdown did not continue. Bitcoin rebounded quickly, reclaimed the $80,000 level, and even touched $81,000 before easing slightly on Sunday morning. That left the spot price around $5,500 above Schiff’s weekend target.
Analyst Willy Woo was among those who highlighted the missed call, describing Schiff as immensely valuable to the BTC community as a counter signal.
The article also recapped Schiff’s history of bearish Bitcoin forecasts, including a 2018 call for a crash to $750 that never materialized, a 2019 claim that Bitcoin would never reach $50,000, and a 2024 warning that spot Bitcoin ETFs would see no demand and trigger a price crash. In reality, ETF investors have poured more than $55 billion into the products, and BlackRock’s Bitcoin ETF surpassed gold products in its debut year.
