Famous economist Peter Schiff thinks that an upward break in the gold price may negatively affect Bitcoin.
Gold supporter Peter Schiff has criticized his long-standing criticism of Bitcoin, which is considered “gold 2.0” as a store of value. repeated.
Schiff said that an upward break in the gold price and a downward break in the Bitcoin price could occur at the same time.
Schiff, “This makes sense because Bitcoin supporters have used gold’s failure to break above to market Bitcoin as a so-called digital alternative to gold. But once the original thing starts performing well, there will be no need for it to be nailed.” said.
The economist believes that Bitcoin, which has doubled in value this year, will decline again. In his statements earlier this month, Schiff said that he thought Bitcoin would decline before spot exchange-traded funds (ETFs) were established.