The gold bull noted that Bitcoin’s price has fallen 34% against gold since reaching its all-time high in August.
Gold bull Peter Schiff warned investors on Friday that Bitcoin’s (BTC) bear market is far from over, pointing to the cryptocurrency’s ongoing underperformance versus gold.
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In a post on X, Schiff noted that Bitcoin’s price has fallen roughly 34% against gold since reaching its all-time high in August. “If you think this bear market is nearing its end, think again!” he wrote. Schiff has long emphasized the role of gold as a hedge against market volatility and a store of value, especially in comparison to Bitcoin, which he views as vulnerable to speculative cycles and sudden sell-offs.
The overall cryptocurrency market declined roughly 6% over the past 24 hours, bringing total market capitalization to about $3.6 trillion. Bitcoin (BTC), the largest cryptocurrency, fell 4.8% during the same period, trading near $105,400. Despite the drop, retail sentiment on Stocktwits remained ‘bullish,’ with chatter at ‘high’ levels.
While gold prices have been hitting new highs this week, Bitcoin and the rest of the cryptocurrency market have been struggling to recover from last weekend’s sell-off triggered by President Donald Trump’s threat of 100% tariffs on China on Friday.
Get updates to this developing story directly on Stocktwits.<
Read also: Bitcoin Falls Below $105,000, Pulling MSTR Lower – XRP And Solana Drop Amid Banking Jitters
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