- Peter Schiff again criticized bitcoin holders and investors for choosing bitcoin over gold.
- Peter shared an analysis report on how bitcoin as an asset gained about 3% in value while gold had occupied more than 7% in market value.
- The price expectation after the halving, for one Bitcoin, is anywhere between $100,000 to $1 million.
Financial investor Peter Schiff again criticized Bitcoin and bitcoin holders on his Twitter handle calling them fools and instead advised them to buy gold or invest in them to gain returns.
This is not the first time when Peter has given such statements on Twitter against bitcoin and cryptocurrency as an investor of assets.
— Peter Schiff (@PeterSchiff) March 24, 2020
Bitcoin Vs Gold: The Never-Ending Debate
Peter shared an analysis report on how bitcoin as an asset gained about 3% in value while gold had occupied more than 7% in market value. He stated that gold was clearly down by only 2% of its highest value this year while bitcoin had lost 35% of its market value compared to this year’s highest.
During this week, observing the activities of both the market of cryptocurrency and commodities, Gold’s market value has increased and increased to the price of $1668 while watching bitcoin it rises to about $6585 as of 25th of March. Bitcoin had shown signs of trying to climb the $7000 mark but however, the supports holding the bitcoin at steady pace couldn’t push any further.
As mentioned earlier Peter Schiff has always been behind criticizing bitcoin and how it has proved itself as a failed asset.
Some haters have always failed to understand cryptocurrency as new age assets as they are already comfortable with traditional markets, assets, and ideas.
Bitcoin when it was at its peak at $20,000 USD every investor wanted the piece of the action but every investor now wants to downgrade it.
Looking at the current charts and analyzing the bears continue to hold the bitcoin at -2.03% at $6,550.05 USD of market value. The ROI is also observed on the negative side as it is gradually decreasing and is now holding at 4,741.51%
With the Bitcoin halving just around the corner, Bitcoin might have created a new market trend with these drops to facilitate the halving and the post trend and value.