Bitcoin's drop below November 2021 peak and entry into long-term bear market from Peter Schiff's perspective

Bitcoin's drop below November 2021 peak and entry into long-term bear market from Peter Schiff's perspective
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⚡️ In 3 seconds
Bitcoin has fallen below the November 2021 price level and recorded a seven percent drop in a single day, entering a declining phase as critics warn of the imminent exit of institutional hot money
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📊 Numbers you need to know
- Bitcoin price reached a little over $68,000, which is lower than the historical peak of November 2021
- The 24-hour drop was recorded at 7.0 percent for Bitcoin, 14 percent for Ethereum, and 12 percent for Solana
- Strategy company added the equivalent of 1,036 new Bitcoins worth about $82 million to its treasury
- Michael Saylor's share buyback value for Strategy company reached $188 million
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🔍 What 90% of the media doesn't say
Bitcoin's shift in ownership from retail users to exchange-traded funds and large companies, contrary to public perception, has not brought stability and has entangled the market in hot money that can exit with terrifying speed during a crisis
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⚖️ Two sides of the coin
🟢 Market supporters believe that multi-year downtrend periods have also historical precedent for assets like gold and Nasdaq, and these drops are merely a temporary purge
🔴 Critics warn that Bitcoin has no intrinsic value and the exit of institutional capital can trigger a drop much faster than the uptrend
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🎯 What does it mean for your wallet?
With key levels lost and heavy selling pressure, the market has entered a deep correction phase, making decision-making a critical stage for investors
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💬 Is this heavy drop a golden buying opportunity or the beginning of a long winter
📌 Send this detailed market analysis to a friend active in the cryptocurrency space to see the hidden angles of the story
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