Famous economist Peter Schiff, also known as the “Gold Bug”, expressed that there is a major change in Bitcoin and that the price could plummet further.
The gold enthusiast Peter Schiff, who repeatedly referred to Bitcoin as a “bubble”, said in a tweet that the price of BTC would continue to fall.
In his comments, the economist stated that last week saw a 4% increase in gold, 10% increase in silver, a 7% increase in VanEck’s gold miners index, but a 5% decrease in Bitcoin ETFs and a 16% decrease in the shares of the largest institutional Bitcoin whale MicroStrategy.
Referring to this as a significant change, the analyst noted that he expects the acceleration of the rise in gold and the decline in Bitcoin to continue. Schiff emphasized that he had warned everyone about this.
Last month, Peter Schiff stated that he had been aware of Bitcoin since 2010 and said he regretted not investing when it was trading for a few dollars.
