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Peter Schiff, a supporter of gold and critic of Bitcoin, stated that there is excessive optimism in the Bitcoin market, and there is still a long way to go before reaching a bottom. He predicted that if Bitcoin falls below $50000, the price could quickly drop below $20000, shaking the confidence of long-term holders and triggering a larger sell-off. He also pointed out that if the Bitcoin crash is limited to the cryptocurrency market, it may be due to internal factors within the industry; But if it affects risky assets such as stocks, it may reflect deeper macro risks.