ChainCatcher News, economist and gold supporter Peter Schiff posted on social media that gold prices have broken through $5000 again. Traders who shorted gold last week may face difficulties. Meanwhile, Bitcoin’s price has fallen to $76,000, currently worth about 15 ounces of gold, down 59% from its peak in November 2021. Priced in gold, Bitcoin is in a long-term bear market.
It is reported that, as a long-time gold supporter and Bitcoin critic, Peter Schiff has always held a negative attitude towards cryptocurrencies.
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