Famous economist Peter Schiff, known as the “Gold Bug”, expressed that there is a major change in Bitcoin and that the price could drop even further.
The gold enthusiast who has repeatedly described Bitcoin as a “bubble” said that the BTC price would fall even further in a statement on Twitter.
In his post, the economist stated that last week gold had an increase of %4, silver %10 increase, VanEck’s gold miners index was a %7 increase, but the Bitcoin ETFs had a %5 decrease, and the largest institutional Bitcoin whale, MicroStrategy’s shares had a %16 decrease.
Stating that this represents a major shift, the analyst mentioned that he expects the acceleration of the rise in gold and the drop in Bitcoin to continue. Schiff emphasized that he warned everyone about this.
Peter Schiff stated in a previous statement last month that he was aware of Bitcoin since 2010 and regretted not investing when it was trading for a few dollars back then.
