Famous economist Peter Schiff, also known as “Gold Bug”, expressed that there is a big change in Bitcoin and the price may further decline.
The gold enthusiast Peter Schiff, who has frequently referred to Bitcoin as a “bubble,” said on Twitter that the BTC price will further decrease.
In his post, the economist said that while gold increased by 4% last week, silver by 10%, and VanEck’s gold miners index by 7%, Bitcoin ETFs decreased by 5%, and the shares of the biggest institutional Bitcoin whale, MicroStrategy, decreased by 16%.
Stating that this represents a major shift, the analyst indicated that he expects the rise in gold and the acceleration of the decline in Bitcoin to continue. Schiff emphasized that he had warned everyone about this.
In a statement last month, Peter Schiff mentioned that he has been aware of Bitcoin since 2010 and regrets not investing when it was trading for only a few dollars.
