Key Takeaways
- •Peter Schiff predicted Bitcoin's non-recovery at $18K in June 2022.
- •BTC surged past $110,000, contradicting earlier forecasts.
- •Expert opinions highlight Bitcoin's volatile but resilient nature.
In June 2022, Peter Schiff, CEO of Euro Pacific Capital, asserted Bitcoin would not recover as its price hovered near $18,000.
His prediction drew widespread attention and rebuttal when Bitcoin eventually surged above $110,000 by 2025, highlighting cyclical market skepticism.
In June 2022, Peter Schiff, a known Bitcoin critic, publicly declared that Bitcoin would not recover when it traded around $18,000. However, by June 2025, Bitcoin's value had risen above $110,000, showcasing a dramatic market reversal.
“Never say never, especially when it comes to the price of Bitcoin. I’ve learned that lesson.” – Peter Schiff, CEO, Euro Pacific Capital, June 2025
Peter Schiff, CEO of Euro Pacific Capital, has consistently criticized Bitcoin, likening it to speculative bubbles. Recently, he acknowledged the unpredictability of Bitcoin, tweeting that one should “never say never” following Bitcoin's significant price increase.
The immediate market reaction to Schiff's statement was sentiment‑driven rather than financial, as no official reallocations or grants followed. As the market recovered, confidence shifted, evident in rising funding rates and a restored bullish outlook.
Schiff's remarks reflected broad market bearishness amid economic tightening. Despite not triggering regulatory or funding changes, his views highlighted the cyclical nature of sentiment in the volatile digital asset market.
The recovery of Bitcoin, contradicting Schiff's prediction, underscored the resilience often observed in cryptocurrency markets. Market volatility, driven by both speculative actions and broader economic factors, continues to affect investor behavior and asset performance.
Historical data shows similar claims have punctuated Bitcoin's history, often met with eventual recovery and growth. While Schiff's skepticism was not unique, the recent price surge cements Bitcoin's unpredictable nature and its capacity for recovery after declines.