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Peter Schiff, a well-known Bitcoin critic and proponent of gold, has once again voiced his concerns about the future of Bitcoin (BTC). Schiff predicts that Bitcoin’s price could plunge to as low as $10,000, citing its perceived lack of fundamental value compared to gold. His latest comments come amid Bitcoin’s recent volatility and gold’s steady rise in value.
Bitcoin’s Long-Term Viability in Question
Schiff argues that Bitcoin’s price is primarily driven by speculation and short-term hype rather than sound economic principles. He believes that as gold reaches new record highs, Bitcoin will inevitably suffer a dramatic decline.
“By the time they get to their target of $5K for gold, they will drag Bitcoin down to $10K, meaning a drop of 95% from the highest it was valued at in 2021,” Schiff stated.
This perspective has raised concerns among Bitcoin investors, particularly those who view it as a store of value akin to gold. Schiff emphasizes that millions of young investors are placing their trust in Bitcoin while overlooking gold’s historical role as a reliable hedge against inflation.
Bitcoin vs. Gold: The Performance Gap
Schiff highlights Bitcoin’s underperformance relative to gold. While gold has recently surged past $3,000 per ounce amid global economic uncertainty, Bitcoin’s value has depreciated significantly when measured against the precious metal. Since early 2025, Bitcoin’s price has fallen over 30% against gold, with one BTC now equating to just 27.4 ounces of gold, compared to 41 ounces in December 2021.
If Bitcoin is an asset that people only buy when the stock market is going up and risk appetite is high, what is it that investors are buying? It's not a stock as it will never have earnings or pay a dividend. It's clearly not a risk-off asset, a store of value, or digital gold.
— Peter Schiff (@PeterSchiff) March 28, 2025
Additionally, Schiff argues that Bitcoin’s categorization as a “risk asset” makes it vulnerable to market downturns. Unlike gold, which is seen as a safe-haven asset, Bitcoin’s price movements often mirror broader market trends, increasing its volatility.
Market Analysts Weigh In on Bitcoin’s Trend
Several analysts share Schiff’s cautious outlook. Veteran trader Peter Brandt has identified a “bear wedge” pattern, suggesting Bitcoin may decline to $65,635. Similarly, crypto analyst Michaël van de Poppe warns that Bitcoin’s current price action indicates weakness, with a potential drop below $84,000 triggering a deeper correction.
Trend remains to be upwards for $BTC, but it starts to look slightly less good.
— Michaël van de Poppe (@CryptoMichNL) March 28, 2025
It's shaking.
Drop sub $84K and I think we'll see a test at $78-80K and perhaps lower before we'll bounce back up. pic.twitter.com/nZaweAv9nv
However, not all experts agree. Charlie Morris of ByteTree argues that Bitcoin may have already seen its worst downturn and could recover, while financial author Robert Kiyosaki believes silver could outperform both Bitcoin and gold.
Also Read: BlackRock’s Bullish Bet on Ethereum: Will ETH Outshine Bitcoin?
As gold continues to rally, Bitcoin remains at a crossroads. While critics like Peter Schiff foresee a severe downturn, others believe the cryptocurrency could defy expectations. Investors must weigh the risks carefully as the debate over Bitcoin’s future intensifies.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
