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