Schiff Warns of Massive Bitcoin Selloff Amid Broader Market Correction

Peter Schiff, an economist who accurately predicted the 2008 financial crisis, is warning of a significant selloff in Bitcoin. In a post on X, he stated that the current tech selloff is just a preview of something larger and that Bitcoin will take a harder hit than investors are currently pricing in.

According to Schiff, the entire U.S. stock market is overpriced, not just tech, and he expects a much bigger selloff in Bitcoin. He believes the broader market is next, with the correction spreading beyond the sector that has already started cracking.

Schiff's view on Bitcoin follows his consistent pattern of regarding it as a risk asset that trades with market sentiment rather than against it. When genuine fear spreads across equities, crypto tends to amplify the move rather than provide shelter.