Bitcoin Price Dips Below $108,000 Amid Bear Market Predictions

The Bitcoin price is struggling, facing a downtrend and unable to sustain above $115,000. This level remains a significant short-term resistance.

Peter Schiff, a Bitcoin skeptic, claims Bitcoin has declined by 32% against gold since August and warns of a "brutal" bear market.
Schiff advises investors to sell Bitcoin, which he refers to as "fool's gold," and invest in tangible assets like gold to avoid financial risks.
Changpeng Zhao, ex-CEO of Binance, sarcastically responded to Schiff, highlighting Bitcoin's historical growth from $0.004 to about $110,000.
Despite current challenges, Zhao emphasizes Bitcoin's long-term potential.

Contrasting Views on Bitcoin's Future

Schiff argues Bitcoin won't replace the US dollar or serve as "digital gold," leading to potential losses for HODLers.
Conversely, analyst Timothy Peterson predicts a 75% chance for a positive October for Bitcoin, with prices potentially closing above $114,000.

Currently, Bitcoin is trading around $108,280, after dipping to $107,500, standing 13% below its all-time high.

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