Since the beginning of 2025, the Nasdaq Composite index has slipped by over 8.21%, and the Nasdaq 100 index by 6.16%. Meanwhile, Bitcoin decreased by around 11.25%, reflecting US stock market trends. Conversely, gold prices have surged by 15.1%.
Current State of Indices and Bitcoin
Since the start of 2025, there has been a significant downturn in the US stock market, which has also impacted Bitcoin's value. Over the past 30 days, Bitcoin has dropped by 14.3%, and by 0.5% in the last 24 hours.
Peter Schiff's Forecasts and Warnings
Bitcoin skeptic Peter Schiff warns that if the Nasdaq falls 20%, Bitcoin could drop to $65,000. A deeper market crisis could see its price plunging to $20,000 or lower. Schiff draws parallels between the current market scenario and past crises, such as the 2008 financial crisis and the dotcom bubble.
Gold Price Surge
At the start of 2025, the gold spot price was $2,623.954 per ounce, and since then, it has increased by 15.1%. Schiff notes an inverse relationship between the US market and gold, predicting that a further Nasdaq drop could push gold to $3,800 per ounce.
While the crypto market has often defied pessimistic outlooks, Schiff remains confident that gold will outperform Bitcoin in the long run.
