Prices of $42,000 per Bitcoin were more than enough ammunition for well-known Bitcoin bears to reload. As the Bitcoin ( BTC ) price slides to 2022 lows, the Bitcoin bears have come out to play. Popular names in the BTC space including Sam Bankman-Fried and John Carvalho heeded words of caution overnight, while gold bug Peter Schiff and eternal pessimist CryptoWhale were keen to kick the coin while it was down.  A liquidation cascade on Jan. 6 took out more than $318 million BTC positions of which over 88% were long. The price corrected to circa $42,500 per BTC. News of a mining ban in Kazakhstan and the Federal Reserve’s decision to hike rates were likely causes for the slump in crypto market confidence. Long-standing gold proponent and crypto skeptic Peter Schiff tweeted that if “Bitcoin breaks $42K it's headed to $30K. If it breaks $30K it could crash to $15k. All this might happen very soon.” He encouraged BTC leveraged investors to sell now to avoid liquidation at lower prices. CryptoWhale, a self-proclaimed crypto analyst and perma-bear with upwards of 400,000 Twitter followers,  said , “Bitcoin is going under $10K this year. Don’t forget that.” A relentless Bitcoin bear, the account has called for a sub-$10,000 BTC since as early as October last year. Related: Raoul Pal says 'reasonable chance' crypto market cap could 100X by 2030 The Bitcoin Fear & Greed Index is at lows not seen since 2021 which is usually the time that BTC OG’s clarion calls are sounded. It registered a score of 15 or extreme fear this morning. Sam Bankman-Fried, the CEO of FTX crypto exchange, didn’t exactly assuage investors’ concerns about the bearish woes. He recommended that the best thing to do in a bear market is to build, before hastily clarifying that “down today doesn't mean down tomorrow.” Finally, the CEO of recently launched Synonym Software , John Carvalho, didn’t mince his words when referring to the recent BTC price movements: EVERYONE must endure the brutal Bitcoin rite of passage of a bear market where their investments are severely under water. This includes Elon, Jack, and Saylor. And you. — John Carvalho (@BitcoinErrorLog) January 5, 2022 As he points out, the BTC market can be a baptism of fire for newcomers. It could be some time before the bears return to hibernation.