Famous economist Peter Schiff, who is 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 referred to Bitcoin as a “bubble”, stated on Twitter that the price of BTC will drop even more.
In his post, the economist mentioned that last week saw a 4% increase in gold, 10% increase in silver, and a 7% increase in the VanEck gold miners index, while Bitcoin ETFs decreased by 5% and the shares of the biggest institutional Bitcoin whale, MicroStrategy, dropped by 16%.
He emphasized that this indicates a major change, and he expected the rise in gold and the acceleration of the decline in Bitcoin to continue. Schiff stressed that he had warned everyone about this.
Last month, Peter Schiff stated that he has been aware of Bitcoin since 2010 and admitted that he regrets not investing when it was trading for a few dollars.
