Peter Schiff Claims Bitcoin 'Bubble Is Deflating' — Is BTC Just Pausing After a 77% Yearly Increase?
Bitcoin's Underperformance: Peter Schiff criticized Bitcoin for its lackluster performance compared to stocks and gold, stating that the cryptocurrency's bubble is "running out of air."
Comparative Returns: Since Bitcoin's peak at $100,000 in December 2024, it has only risen by 10%, while the NASDAQ increased by 12%, gold surged by 28.5%, and the VanEck Gold Miners ETF skyrocketed by 80%.
Market Behavior: Bitcoin has acted more like a risk-on asset this year, influenced by external factors such as tariff policies and Federal Reserve rate cuts, leading to a drop to $75,000 after "Libration Day."
Skepticism Towards Bitcoin: Schiff has a history of skepticism towards Bitcoin, previously predicting it would never reach $100,000, although he acknowledged being wrong about that prediction.
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