Economist and crypto critic Peter Schiff has issued a warning about the ongoing decline in the cryptocurrency market. On October 12, Schiff highlighted that Bitcoin has fallen below $110,000, while Ethereum has dropped under $3,700. He cautioned that if Ethereum breaches the $3,350 support level, it could plummet to $1,500, representing a nearly 70% decrease from its peak. Such a scenario could also see Bitcoin falling to approximately $75,000, a 40% drop from its high, potentially erasing all paper profits for Strategy Bitcoin investors.