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Bitcoin Vs. Gold: Schiff Predicts A Catastrophic 85% BTC Drop—Details

Bitcoinist LogoBitcoinist11h ago

Bitcoin Vs. Gold: Schiff Predicts A Catastrophic 85% BTC Drop—Details - Bitcoinist

Quick Summary:

A well-known American economist suggested a relationship between gold, NASDAQ and Bitcoin, saying that a decline in NASDAQ usually leads to a decrease in Bitcoin.  Peter Schiff explained in a post the correlation between the state of Bitcoin and the market situation of NASDAQ, adding that there is a negative relationship between gold and NASDAQ.

He said that since the NASDAQ peaked on December 16, 2023, gold has increased by 13%, which is an almost perfect 1-to-1 correlation.“If that correlation holds too, a 40% drop in the NASDAQ would put gold over $3,800.

However, my guess is that if a bear market in stocks coincides with a significant decline in the dollar on foreign exchange markets, gold will rise much higher,” he explained in a post.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-19 @ 03:30:09 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 524 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 27164239

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About Bitcoinist

Bitcoinist Logo

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 11 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 10 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #105

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The story "Bitcoin Vs. Gold: Schiff Predicts A Catastrophic 85% BTC Drop—Details" was covered 11 hours ago by Bitcoinist, a news publisher based in Hungary.

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  • URL: https://chronographically.beamstart.com/news/bitcoin-vs-gold-schiff-predicts-17423557795257

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