Peter Schiff: Bitcoin will continue to fall before payment at Mt Gox
Economist and gold enthusiast Peter Schiff has warned that Bitcoin has re-entered the official bear market territory, falling more than 20% from its historical high. However, looking at the price of gold, the bear market is even more fierce, with Bitcoin currently down over 30% in terms of gold prices. The bear market is still young. Be careful below. On Monday, Mt. Gox announced it will start distributing Bitcoins in July; this gold advocate also warned that Mt. Gox creditors receiving Bitcoins could have an impact. Schiff believes: Mt.Gox's bitcoins haven't even been returned yet but they will begin in July. Therefore, before Mt.Gox's bitcoins really start entering the market, the price of bitcoin may plummet significantly.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Euro: Tight range with downside bias against US Dollar – ING
Pernod Ricard reports 252,269,195 issued shares, 302,559,686 voting rights as of Aug. 31, 2026
Momentum IM flags tight link between UK 5-year gilt yields and natural gas futures
Aberforth Smaller Companies Trust NAV per share at Sept. 4 close: 1,934.81p excluding revenue
Crypto prices
More
