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Story: Peter Schiff Slams Wall Street Bitcoin Bets as Crypto Tanks Below $35K

By Dan Saada

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Bitcoin keeps bleeding. The cryptocurrency sits around $33,000 after crashing from its November peak of $68,000, and gold bug Peter Schiff won't let anyone forget he called this…

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Schiff thinks Wall Street got way too cozy with Bitcoin and basically fooled regular investors into believing the hype.

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Some analysts still see long-term upside potential in Bitcoin, pointing to growing adoption and tech improvements like the Lightning Network.

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Regulatory uncertainty makes everything worse. The SEC still hasn't approved a Bitcoin spot ETF, which would give traditional investors easier access to crypto exposure.

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JPMorgan analysts jumped into the debate on January 20, 2026, with a note that basically said Bitcoin's wild price swings might scare off conservative investors for good.

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But here's the weird part. Trading volume is actually up.

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Coinbase reported a 15% jump in transactions over the past week, suggesting some investors see the price drop as a buying opportunity.

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Warren Buffett wasn't impressed when he spoke at a financial conference on January 22, 2026.

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Elon Musk tried to calm nerves with a Twitter post on January 23, 2026: "Volatility is part of the journey. Long-term vision is key.

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The February 2026 Fed meeting looms large. Any hints about future rate moves could swing Bitcoin and other risk assets hard in either direction.

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Schiff's criticism cuts deeper than just price predictions. He thinks Bitcoin's volatility is baked into its DNA and won't go away no matter how many institutions adopt it.

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The divide between Bitcoin believers and skeptics keeps growing wider. One side sees a revolutionary technology that's still finding its footing.

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Trading volumes suggest the market isn't giving up on Bitcoin completely, even as prices struggle.

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The crypto winter extends beyond Bitcoin into the broader digital asset ecosystem. Ethereum dropped 45% from its highs, while smaller altcoins faced even steeper losses.

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Mining operations are feeling the squeeze too. Several large Bitcoin mining companies shut down facilities as energy costs outweighed rewards from the network.

The Currency Analytics

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