Famous economist Peter Schiff, also known as the “Gold Bug,” stated that there is a big change in Bitcoin and that the price could drop even further.
Peter Schiff, who has referred to Bitcoin as a “bubble” many times, said on Twitter that the price of BTC will fall even further.
The economist noted that last week, there was a 4% increase in gold, a 10% increase in silver, and a 7% increase in VanEck’s gold miners index, but Bitcoin ETFs dropped by 5% and the shares of the largest institutional Bitcoin whale, MicroStrategy, fell by 16%.
Asserting that this represents a major change, the analyst stated that he expects the rise in gold and the acceleration of the drop in Bitcoin to continue. Schiff emphasized that he warned everyone about this.
Last month, Peter Schiff stated that he has been aware of Bitcoin since 2010 and expressed regret, saying that he wished he had invested when it was trading for a few dollars.
