if Peter Schiff tells you to jump off a cliff, will you? when you bought bitcoin were you buying it because Peter Schiff told you to buy it or were you buying it because you did research and believed the price could go up? any investment has risks, and in any investment we need to take precautionary measures in case of a drop, and stop thinking that bitcoin is collapsing, price drop (even if it is a big price drop) is something normal in case of a crash. bitcoin or did you think that the price of bitcoin would just keep going up infinitely? if it went up a lot, it can also go down a lot