Since the start of the year, the Nasdaq Composite and Nasdaq 100 indices have significantly dropped, affecting Bitcoin as well. It's important to understand how these changes influence the crypto market and what experts predict.
Nasdaq and Bitcoin Decline
Since February 20, the Nasdaq Composite index decreased by 11.34%, and the Nasdaq 100 by 10.94%. During the same period, Bitcoin fell by 13.52%, indicating its dependence on the US stock market events. Gold advocate Peter Schiff forecasts that if Nasdaq drops by 20%, Bitcoin might fall to $65K, and by 40% to $20K.
Gold as an Alternative
Amid the Nasdaq decline, gold has shown growth. At the start of 2025, the gold price was approximately $2,624.65 per ounce and currently stands at $2,989.38. Schiff notes that gold might surpass $3,800 if stocks keep falling.
Bitcoin's Future: Challenges and Forecasts
Schiff questions Bitcoin's ability to serve as a reliable asset like gold. Potential Bitcoin declines could influence decisions of investors like MicroStrategy, which owns 499,096 BTC. Schiff warns that in case of a sharp Bitcoin drop, companies might start liquidating their reserves.
Recent events in the US stock market highlight the importance of analyzing the interrelation between traditional and digital assets. Peter Schiff's forecasts serve as a reminder of potential risks in the cryptocurrency market.
