{"id":17984,"date":"2025-03-19T03:32:57","date_gmt":"2025-03-19T03:32:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=17984"},"modified":"2025-03-19T03:32:57","modified_gmt":"2025-03-19T03:32:57","slug":"bitcoin-vs-gold-schiff-predicts-a-catastrophic-85-btc-drop-details","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=17984","title":{"rendered":"Bitcoin Vs. Gold: Schiff Predicts A Catastrophic 85% BTC Drop\u2014Details"},"content":{"rendered":"
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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<\/a>.\u00a0<\/p>\n

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<\/a> and NASDAQ.<\/p>\n

NASDAQ-Bitcoin Connection<\/strong><\/h2>\n

Schiff, a renowned Bitcoin skeptic, told his followers on X that the bearish condition<\/a> of the financial market might influence the price movement of the flagship crypto, saying that if NASDAQ<\/a> goes down, Bitcoin follows.<\/p>\n

The economist said that currently, NASDAQ is down 12%, and could affect Bitcoin. \u201cIf this correction turns out to be a bear market, and the correlation where a 12% decline in the NASDAQ equates to a 24% decline in Bitcoin holds, when the NASDAQ is down 20%, Bitcoin will be about $65K,\u201d he added.<\/p>\n

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The NASDAQ is down 12%. If this correction turns out to be a bear market, and the correlation where a 12% decline in the NASDAQ equates to a 24% decline in Bitcoin holds, when the NASDAQ is down 20%, Bitcoin will be about $65K.<\/p>\n

But if the NASDAQ goes into a bear market, history\u2026<\/p>\n

\u2014 Peter Schiff (@PeterSchiff) March 16, 2025<\/a><\/p>\n<\/blockquote>\n

However, Schiff argued that once NASDAQ entered a bear market, the decline would be much larger, citing what happened in the past.<\/p>\n

He explained that after the bursting of the Dot-com bubble, NASDAQ plummeted by nearly 80% while during the 2008 global financial crisis, it dropped by 55%, and, recently, during the pandemic crash in 2020, NASDAQ went down by around 30%.<\/p>\n

\n\u201cThe average of those three bear markets is a 55% decline. If this bear market bottoms with just a 40% decline, that would put Bitcoin at about $20K. However, my bet would be that a drop of that magnitude would accelerate Bitcoin\u2019s collapse to much lower levels,\u201d he added.\n<\/p><\/blockquote>\n

Yellow Metal Continues To Shine<\/strong><\/h2>\n

Schiff might have a bearish outlook on Bitcoin but offered a more optimistic view on gold, saying there is a negative relationship between NASDAQ and gold.\u00a0<\/p>\n

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.<\/p>\n

<\/p>\n

\u201cIf 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,\u201d he explained in a post.<\/p>\n

Gold-Bitcoin Comparison<\/strong><\/p>\n

Schiff said that even if gold were at $3,800 gold and Bitcoin was at $20,000, in terms of gold, the firstborn crypto would decrease by 85%, adding that it would more likely end the comparison that Bitcoin is a store of value similar to gold.<\/p>\n

\n\u201cThere will clearly be no justification for the US government or any state government to keep any Bitcoin in a Strategic Reserve. There will also be no reason for ETF investors to keep holding their positions either. With all that selling, it will be impossible for $MSTR to sell enough Bitcoin to avoid bankruptcy,\u201d he said.\n<\/p><\/blockquote>\n

As of writing, Bitcoin is traded at $82,433<\/a> with a market cap of over $1.6 trillion.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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.\u00a0 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. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-17984","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/17984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17984"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/17984\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}