Since the start of 2025, Bitcoin's price has declined by over 10.50%, coinciding with the rise in gold prices. Peter Schiff and other experts predict further decline.
Schiff's Arguments: Crypto Crash
Peter Schiff warns that if gold prices surpass $5,000, Bitcoin could drop to $10,000. Known for his skepticism towards Bitcoin, Schiff argues that Bitcoin lacks solid fundamentals. However, he acknowledges that Bitcoin has gained the trust of the younger generation of investors.
Bitcoin Losing Value Against Gold - Data
At the start of 2025, one ounce of gold was equivalent to 0.02771 BTC, and it is now 0.03680 BTC. This signifies a nearly 33% decline against gold. In December 2021, 1 BTC was worth 41 ounces of gold, but now it's only 27.4 ounces.
Is Bitcoin’s Bull Run Over?
Analysts like Peter Brandt and Michael vande Poppe support the view of further Bitcoin decline. Brandt highlights a 'bear wedge' pattern, suggesting a drop to $65,635. Van de Poppe predicts breaking below $84,000 could strengthen bearish momentum.
Despite current instability, some experts, like Charlie Morris, remain optimistic about Bitcoin's future, noting that the market may stabilize in the coming months.
