Gold Bull Peter Schiff Predicts Bitcoin Crash – Here is Why
Since the start of 2025, both the Nasdaq Composite and Nasdaq 100 indices have faced significant declines, with the former dropping by over 8% and the latter by around 6%.
Bitcoin, reflecting a similar downward trend, has seen its price fall by about 11.25%. Meanwhile, gold has been on the rise, gaining over 15% during the same period, sparking predictions from gold advocate Peter Schiff.
He warns that if the Nasdaq enters a bear market, Bitcoin could plummet to as low as $65,000 — or even $20,000 in a worst-case scenario. Schiff believes that as investors flee from riskier assets, gold could soar past $3,800.
READ MORE: March Sees Major Outflows for U.S. Bitcoin and Ethereum ETFs as Bearish Sentiment Grows
Over the past 30 days, Bitcoin’s performance has been particularly grim, with a 14% drop, and it has continued to decline by around 0.5% in the past 24 hours alone.
Schiff, who is a vocal critic of Bitcoin, draws parallels between the current situation and past market crashes, such as the Global Financial Crisis in 2008, which saw the Nasdaq lose 55%.
He also references the 2000 dot-com bubble and the COVID-induced crash, where the Nasdaq experienced declines of 30% and 80%, respectively.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
