Internet reports that economist and gold supporter Peter Schiff posted on X that if the Nasdaq index turns from adjustment to a bear market, bitcoin prices may face a serious decline. Schiff said that the current Nasdaq is down by 12%. If this correlation continues and the Nasdaq falls by 20%, the price of Bitcoin will drop to about US$65000. If the Nasdaq experiences a 40% decline, Bitcoin may fall to about US$20000 or even lower. Peter Schiff pointed out that historically bear markets have often led to larger declines, referring to precedents such as the Internet bubble, the 2008 financial crisis and the 2020 COVID-19 collapse.