Peter Schiff's Nightmare: Bitcoin Holding Steady as Gold Crashes
Analysis
Price Impact
MedThe news highlights bitcoin's resilience compared to gold's significant crash, suggesting a potential shift in safe-haven asset preference. while this is positive for bitcoin, it doesn't guarantee immediate price surges due to other market factors.
Trustworthiness
MedPrice Direction
BullishBitcoin is described as holding steady and reclaiming the $70,000 level while gold crashes. this comparative strength suggests a bullish sentiment for bitcoin as investors may be reallocating from gold to bitcoin.
Time Effect
ShortThe article discusses current market movements and recent events (early february, current week). while the narrative of bitcoin as a new gold may have long-term implications, the immediate price impact is likely short-term.
Original Article:
Article Content:
Cover image via depositphotos.com Bitcoin is holding relatively steady despite gold, its main competitor in the "safe haven" category, experiencing a massive crash. Advertisement The yellow metal is currently down more than $1,100 from its record high that was recorded in early February. In fact, gold is now on the cusp of recording its worst weekly drop since 1983. HOT Stories Peter Schiff's Nightmare: Bitcoin Holding Steady as Gold Crashes Hard Truth About $1 Billion XRP Treasury by CryptoQuant Expert; -199 Billion SHIB: Shiba Inu Coin Sees Exchange Supply Squeeze; Coinbase Opens Perpetual Access to Apple, Amazon and Others: Morning Crypto Report BREAKING: Gold prices fall below $4,500/oz for the first time since February 2nd. Gold is now down -$1,100/oz from its record high seen in January. pic.twitter.com/FKpELATk0g — The Kobeissi Letter (@KobeissiLetter) March 20, 2026 Samson Mow of JAN3 now claims that Bitcoin is the new gold after the cryptocurrency's most recent overperformance. As reported by U.Today, Fidelity's Jurrien Timmer has also praised Bitcoin's resilience in the wake of the recent market turbulence. In fact, equities, precious metals, and treasuries all sold off this week. Advertisement You Might Also Like Fri, 03/20/2026 - 18:08 Fidelity: Bitcoin Has Been Very Resilient By Alex Dovbnya Peter Schiff, a vocal cryptocurrency nemesis, has yet to comment on Bitcoin's relative stability during the current sell-off. Advertisement Some believe that gold is down due to the market pricing in rate hikes. There is currently a 54% chance of the rates increasing to 3.75%-4.00% during the October meeting. However, Schiff insists that postponed rate cuts will not be bearish for gold. "Postponed rate cuts are not bearish for gold. Traders still don't realize that Powell's tough talk is based on the false premise of a strong U.S. economy. Even as inflation soars, once higher rates push an already weak economy into recession, he'll be singing a different tune," he said on X. More catching up to do Bitcoin is currently in the process of reclaiming the $70,000 level despite inflation fears and soaring oil prices. However, the bulls would still have a lot of catching up to do in order to steal gold's luster. For now, Bitcoin is still down 63% from its record peak of 41 ounces that was recorded back in December 2024. #Bitcoin Price Prediction #Peter Schiff #Gold #Samson Mow