Peter Schiff, a staunch supporter of gold and perpetual skeptic of Bitcoin, has predicted another crypto apocalypse. This time, the economist blames the Trump administration for the crash, claiming that the tariffs imposed on China are affecting not only global trade but also cryptocurrencies. A sharp drop in BTC past $110,200 has fueled arguments from gold advocates like Peter Schiff that markets are favoring traditional assets.
According to him, every new crash is not a buying opportunity but a warning for stubborn optimists. By his logic, not even a social media post from Donald Trump can save the crypto market now, while gold is ready to reclaim its throne as the “eternal store of value,” especially with the price of an ounce surpassing $4,100.
With his customary enthusiasm, the economist predicted an “inevitable collapse of the crypto illusion” and the triumph of gold. In his view, Wall Street investors have had their fill of Bitcoin, the bubble has inflated to its limit, and it is now time for classic investments such as gold. However, the market has yet to fully embrace Schiff's apocalyptic forecast, as cryptocurrencies continue to exhibit underlying resilience and investor interest.
