Bitcoin’s weekly table is showing strong warning signs, and now Peter Schiff, one of the strongest critics of the asset, has added fuel to the debate by suggesting that the peak could already be behind us.
Schiff, who has always been more interested in gold than cryptography, talked about a publication that compared the waves of the fourth quarter with today’s rally. In that rally, Bitcoin has exceeded $ 108,000 and reached maximum about $ 124,500.
The comparison showed that Bitcoin has had explosive executions of the end of the year in past cycles: 720% in 2013, 350% in 2017 and 59% in 2021.
Today’s rally is showing triple digit profits, but has not yet coincided with historical countertops. When asked if the roof had already been beaten, Schiff gave a short but shocking answer.
Everything is in line with its overview of the economy.
Schiff recently said that gold will rise to $ 6,000 for the end of next year. But he also said that the dollar index could go to 70, which is the lowest that has been since the mid -2000s. He also expects more turbulence in gold, silver and shares once the US markets reopen after the festive weekend.
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The two parts are quite clear in their arguments. Bitcoin supporters say that the current cycle still has space to run and points to the previous growths of the fourth quarter.
Schiff, on the other hand, adheres to its weapons and says that the asset is aimed at long -term disappointment. He thinks that Gold and Bitcoin go up and go down together, so if one goes up, the other could fall.