Peter Schiff Mocks Bitcoin as Gold and Silver Prices Soar

As the prices of gold and silver continue to soar, chronic Bitcoin critic Peter Schiff has taken another jibe at the number one digital asset. Schiff says Bitcoin is like a horse in a race that is not running at all, and should be taken out completely.

In an X post, the gold bug said the new quantitative easing (QE) has triggered rallies in both gold and silver but Bitcoin has failed to respond, thus removing it from the race. Schiff’s comment is coming after the Fed rate cut which has made very little positive impact on Bitcoin’s price. 

Bitcoin’s as the Tired Horse

Bitcoin has made some impressive gains this year. It reached a new all-time high of $126,000  and drove the rally that made many altcoins soar. The strength of this top digital asset however seems to have waned in a way that most experts cannot explain. Since the crash in October that brought a 31% correction, the coin has not yet recovered.

The correction dragged the price to $83,000 and while Bitcoin has seen some recovery lately, there’s no clean break from the downward trend yet, hence the persisting uncertainty in the market. The coin had risen slightly to $94,000 showing signs of strength, but retail interest suddenly caused a retrace. 

Meanwhile, gold has hit a new all-time high of $4,000 for the first time this year and still shows signs of strength for potential further rallies. According to Schiff, gold is currently trading at $4,325 while silver is up over 70 cents, trading above $64.20 today. Bitcoin on the other hand is currently trading at $92,306 after it failed to maintain its upward rally beyond $94,000.

Fortunately, analysts see signs of recovery despite the sell-off following the rate cut. They say that Bitcoin is still on the path to recovery as long as it stays above $88,000 and could be moving to $100K any moment.

Is Bitcoin Rally Possible this Year?

With 2025 coming close to its end, many are starting to wonder if Bitcoin will rally before the year finally rounds up. Q4 was traditionally associated with crypto rallies, but this year has proven to be different, and some analysts say it is because the 4-year cycle is dead.

This means nothing is promised, and the highly anticipated Bitcoin rally may not come this year. However, that doesn’t rule out the possibility of a rally eventually, probably next year according to an entirely different pattern.

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