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