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- Nidhi Kolhapur
Nidhi Kolhapur
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- Reviewed by:
Zafar Naik - Oct 18, 2025 09:39 UTC
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Peter Schiff Predicts “Staggering Losses” as Bitcoin, Ether, and Altcoins Face Massive Crash
Peter Schiff warns of “staggering losses” in the crypto market, predicting a crash in Bitcoin, Ether, and altcoins.
Schiff emphasizes Bitcoin is down 34% against gold since August.
Crypto trader James Wynn predicts a potential bloodbath in crypto and a “Black Monday” for U.S. stocks.
The crypto market could be heading for serious trouble.
Economist and gold advocate Peter Schiff has issued a stark warning that the losses that are about to hit the crypto industry will be staggering. According to Schiff, the fallout could trigger a wave of bankruptcies, defaults, and mass lay-offs as Bitcoin and Ether, the two largest cryptocurrencies, are poised for a significant crash.
Such a downturn, he suggests, would not only wipe out much of the altcoin market but could also create broader systemic risks.
Bitcoin vs Gold: Schiff Stands Firm
Schiff doubled down on his bearish stance, noting that Bitcoin is now down 34% against gold since its August record high. He warns investors not to assume the crypto bear market is ending anytime soon. He has even said that gold is more likely to reach $1 million than Bitcoin, showing just how skeptical he is about crypto.
Schiff’s remarks come at a time when markets are under extreme pressure. The broader market fears pushed Bitcoin below $104K levels recently, but it has since recovered to 106,898. In contrast, gold hit new highs this week above $4,300.
James Wynn Warns of Imminent Crash
Adding to the concern, crypto trader James Wynn has also warned of a market bloodbath within the next 72 hours. Wynn believes the U.S. stock market might also see a “Black Monday” event soon, with prices dropping sharply. For Bitcoin, he expects a fall to around $88,000–$92,000, raising further alarms for investors.
Bitcoin: A Stress Indicator
But not everybody is bearish.
Strike Founder & CEO Jack Mallers points out that Bitcoin reacts first to financial stress. With yields dropping, spreads widening, and banks under pressure, BTC is already sensing trouble.
He notes that when the Federal Reserve is eventually forced to inject liquidity, BTC is likely to move first and outperform other assets, giving some hope for investors watching closely.
Buying Opportunity For BTC?
Meanwhile, CryptoQuant analysts note that Bitcoin’s Open Interest has dropped to its lowest levels.
When Bitcoin fell about 30% earlier this year, its Open Interest showed extreme fear, hinting the market might be hitting a bottom. Now, after a 20% drop from recent highs, the same signals are showing up again, with lots of liquidations and cautious trading.
However, when the Open Interest hit similar lows in the past, Bitcoin quickly found support and bounced back. So the latest drop could be another chance for strategic buying, especially since long-term on-chain trends still favor BTC.
Bitcoin is struggling to reclaim the $108,000-$109,000 support level. If it manages to break above, it could climb toward $112K soon, but if it fails to hold this zone, the price might slip back toward the $100K range.
A Market Reset
Despite the recent week of intense volatility, some traders believe the worst may be behind us. Trader Virtual Bacon notes that every bull market reaches a point where panic peaks, charts look broken, and everyone assumes it’s over. But that moment often marks a reset, not an ending.
The recent drop helped flush out excess leverage and rebuild a cleaner base for upside. In his view, this is exactly how the market breathes, before the next move.
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FAQs
Experts like Peter Schiff warn of a significant crash for Bitcoin and Ethereum, which could trigger widespread bankruptcies and layoffs across the crypto industry.
Gold has hit new highs above $4,300 as investors seek safer assets amid market stress, while Bitcoin faces predictions of a sharp correction.
Some analysts see the current drop as a potential buying opportunity, as key metrics suggest the market may be bottoming out after a 20% decline.
Predictions vary; a crash to $88,000 is possible, but a rebound to $112,000 could occur if Bitcoin reclaims the $108,000 support level.
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