Given Schiff's influence and the specific mention of the $60K support level, his warning could lead to short-term bearish sentiment among investors, especially if Bitcoin's price approaches this threshold. The psychological impact of such warnings, especially from a well-known skeptic, can amplify market reactions, potentially leading to a self-fulfilling prophecy where the fear of a drop causes more sellers to emerge, thus increasing the likelihood of the price falling below the mentioned support level.