Bitcoin critic and gold advocate Peter Schiff warned on November 14 that a break below $50,000 could send Bitcoin toward a level below $16,500 before the end of 2026. At the time of his post, Bitcoin was trading near $65,850, down 4.36% over the previous 24 hours.
Schiff's warning extends his earlier downside predictions. In February, he said a break below $50,000 would make a test of $20,000 "highly likely." He reiterated similar concerns in June. The November call provides a more specific target, explicitly naming a level below $16,500 with a timeframe before year-end.
Bitcoin was trading 47.82% below its October 6, 2025 all-time high of $126,198 at the time of Schiff's November warning.
In a separate post, Schiff argued that prospective buyers were already invested and cited artificial intelligence as a factor diverting attention from Bitcoin. He also cited rising hacking risk and said the rally driven by recent events was over as reasons for expecting further weakness.
Schiff attached a warning about Bitcoin-holding company MicroStrategy to his forecast, suggesting a year-end retest of lower levels would be negative for the company's stock. MicroStrategy reported holdings of 850,364 BTC as of November 8, acquired for approximately $64 billion at an average cost of $75,456 per bitcoin, including fees and expenses.
Schiff also warned about Ethereum on the same day, predicting that a break below an uptrend around $1,600 could bring it to the 2022 low just below $1,000. Ethereum was trading at $1,851 at the time, down 4.95% over 24 hours and 62.64% below its August 24, 2025 all-time high of $4,954.
