Years' analysts Peter Schiff and Peter Brandt made statements after the sudden drop in Bitcoin price.
Peter Schiff, known for his opposition to Bitcoin, referred to the BTC price falling to around $61,000. According to the analyst, at the current price, BTC corresponds to 26 ounces of gold. However, Schiff reminded that at the other all-time high 2.5 years ago, the value of 1 BTC was equivalent to 37 ounces of gold, and claimed that the real depreciation in the BTC price was around 30%.
Schiff argued that Bitcoin is clearly in a bear market compared to real gold.
On the other hand, Peter Brandt, who draws attention with his cryptocurrency-friendly attitude, evaluated the recent decline in BTC price. Brandt mocked the Bitcoin price's constant ups and downs and then a big boom. Brandt questioned whether such a rise would occur again and hinted that it could happen.
Will Bitcoin chart produce another
Hump
Slump
Bump
Rump
Pump
Dump
then explosion to the upside????
??????? pic.twitter.com/t2kpDYKjla— Peter Brandt (@PeterLBrandt) April 13, 2024
*This is not investment advice.
