Bitcoin was basically unchanged on Friday, settling at $36,000.
The price of Bitcoin is falling, which is forcing the rest of the crypto market to plummet as well.
Mass layoffs will result in mass selling of crypto as unemployed workers raise cash to pay soaring household bills.
Schiff predicted that the world’s most popular cryptocurrency would fall below the $30,000 support level in early January.
The scary part for the longs is that the pattern projects a move below $30,000.
As momentum indications turned negative, Bitcoin broke below a short-term uptrend.