Key Points
- Despite a recent drop, Jack Dorsey predicts Bitcoin will reach $1 million by 2030.
- Peter Schiff warns of potential downward pressure due to waning demand and ETF outflows.
After the recent Bitcoin (BTC) halving event, the cryptocurrency has seen a downward trend.
The latest figures show BTC trading at $60,708, marking a 4.20% drop in the past 24 hours.
Dorsey’s Prediction
Despite this, Jack Dorsey, the former CEO of Twitter, predicts that BTC will hit the $1 million mark by 2030.
Speaking with ‘Pirate Wire’, Dorsey praised the collaborative nature of the Bitcoin community, stating that anyone who contributes to its improvement is also boosting its value.
Layah Heilpern, host of The Layah Heilpern Show, also sees this period as an ideal time to buy.
Despite the bearish trend on the daily chart, AMBCrypto’s analysis indicates a potential short-term rise towards the $65,000 mark.
Schiff’s Warning
However, prominent Bitcoin critic Peter Schiff warns of upcoming downward pressure.
Schiff attributes this to waning demand from new buyers and ETF outflows, which he believes will soon impact Bitcoin’s value.
As such, it is advisable to monitor the situation closely, particularly as BTC forms a familiar Re-Accumulation range near its previous all-time highs.
