According to Golden Finance, economist and gold supporter Peter Schiff posted on X that if the Nasdaq index turns from adjustment to bear market, the price of Bitcoin may face a serious decline. Schiff said that the current Nasdaq fell 12%. If this correlation continues, when the Nasdaq falls 20%, the price of Bitcoin will drop to about $65,000. If the Nasdaq experiences a 40% decline, Bitcoin may fall to about $20,000, or even lower. Peter Schiff pointed out that bear markets have usually brought about greater declines in history, referring to precedents such as the Internet bubble, the 2008 financial crisis and the 2020 COVID-19 collapse.