As the debate over bitcoin’s low point intensifies, prominent bitcoin critic Peter Schiff (피터 시프) put the bottom price at $0.

On July 4, blockchain media outlet U.Today reported that Schiff recently answered “0” on X (Twitter) when asked when bitcoin would bottom out.

The remark came after bitcoin recently slid to its lowest level in 21 months. Bitcoin fell to $57,717 on July 1, its lowest level since Sept. 17, 2024. It later rebounded and was last trading at $62,463, up 1.18 percent over the past 24 hours.

The market is focusing on the view that the drop weighed on investor sentiment due to the possibility of prolonged high interest rates and concerns related to Strategy. Anxiety over Strategy, seen as a core pillar of corporate buying demand, added to the pressure and widened bitcoin’s weakness.

In this situation, market participants are focused on where prices will form a low. The article said bitcoin is down nearly 51 percent from the record high of $126,198 set last year. Some market analysts therefore believe it is entering a range where lows formed in past downturn cycles.

Schiff has also recently said bitcoin’s price will eventually fall to $1,000. The comment came after Citigroup cut its 12-month bitcoin price target to $82,000 from $112,000. Even as market outlooks turn more conservative overall, Schiff has maintained the most hardline downside scenario.

Bitcoin’s price moves remain highly volatile. After the sharp drop, the rebound has continued and arguments over whether a short-term low has been confirmed are also continuing. The original article noted that bitcoin has repeatedly defied pessimism over its 17-year history. The outlet said the market is likely to watch whether actual buying emerges despite worries about high interest rates, uncertainty over corporate demand and additional downside pressure.