If the $30,000 level is broken sharply, the price is “very likely” to drop below $10,000. Such a prediction was given by gold advocate and first cryptocurrency Peter Schiff.

if #Bitcoin If it breaks below $30,000 for sure, a drop below $10,000 seems likely. This means that it is a very important decision that anyone who owns Bitcoin must make now. What are you going to do? You’d better decide now so you don’t panic and make a snap decision.

— Peter Schiff (@Peter Schiff) 8 May 2022

He started a Twitter poll to find out what tactics asset owners would follow in this situation.

At the time of writing, more than 34,000 users have joined. Less than 20% of respondents believe that bids will not fall below $30,000.

During the voting, Schiff also noted:

“Currently, 80% of the 16,000 bitcoin holders responding to my survey believe it will drop below $30,000. Given the current price of $34,500, why not sell and buy back after the drop, especially if you can save tax losses?

80% of 16,000 so far #Bitcoin Respondents to my survey believe that Bitcoin will drop below $30,000. Given the current $34.5k price, why not sell it after the drop and buy it back, especially if you can also save a tax loss?

— Peter Schiff (@Peter Schiff) 8 May 2022

At the same time, 54% of respondents intend to hold the asset. 15.5% of respondents plan to follow Schiff’s advice: sell cryptocurrencies and then buy at a lower price. Only 10.5% are ready to get rid of bitcoin.

The investor noted that he deliberately excluded the option to purchase additional cryptocurrencies in the fall. However, many hodlers believe they will resort to it.

“This is a bad decision,” Schiff said.

His prediction of the market’s decline was supported by a bitcoin analyst under the pseudonym Benevolent Ponzi. However, he noted that he does not expect this in the near future.

“We will probably see a repeat of 2018. But this is unlikely to happen in months. The market likes to keep you waiting for more pain.”

Nice oversimplification, Peter. We’ll likely see a rhyme of what happened in 2018. However, this is unlikely to happen for months. The market likes to force us to wait for more pain. https://t.co/t3TnzidzXe

— Philanthropist Ponzi (@benevolentponzi) 8 May 2022

On May 9, the cryptocurrency failed at $33,500.

Recall that in January, Galaxy Digital founder Mike Novogratz offered Schiff a $1 million bet on the bitcoin price. Second, it had previously predicted a drop in bids to $10,000.

In January, a bitcoin trader under the pseudonym macromule revealed a successful trading strategy based on Schiff’s first cryptocurrency-dedicated tweets.