The well -known American economist proposed the relationship between gold, Nasdaq, and Bitcoin, and said that the decrease in Nasdaq generally leads to a decrease in bitcoin.
Peter Schiff added that there is a negative relationship between gold and NASDAQ, posting the correlation between Bitcoin’s condition and NASDAQ’s market situation.
Nasdaq Bitcoin Connection
Schiff, a famous Bitcoin skepticist, said to his followers of X, the weak condition of the financial market could affect the price movement of flagship encryption, Bitcoin said:
Economist said NASDAQ is currently decreasing 12%and can affect Bitcoin. “If this modification turns out to be a bear market, and Nasdaq falls 20%, Bitcoin will be about $ 65K.”
Nasdaq has decreased 12%. If this modification turns out to be a bear market and Nasdaq falls 20%, Bitcoin’s correlation is about 65K.
But when Nasdad enters the bear market, history…
-Peter Schiff (@peterschiff) March 16, 2025
But once Schiff cited what happened in the past when NASDAQ entered the bear market, the decline would be much larger.
He explained that after the dot -com bubble broke out, NASDAQ decreased almost 80%, while the 2008 global financial crisis decreased by 55%, and NASDAQ decreased by about 30%during the 2020 infectious accident.
“The average of these three bear markets is 55% decrease. With the 40% decrease in the bear market, Bitcoin will be deployed to about $ 20K. But the decline will accelerate the collapse of Bitcoin to a much lower level.”
Yellow metal keeps shining
SCHIFF can have a view of Bitcoin, but it provides a more optimistic view of gold, saying that there is a negative relationship between NASDAQ and GOLD.
He said that gold has increased by 13%since Nasdaq reached its peak on December 16, 2023, which is almost a perfect one -on -one correlation.
“If the correlation is maintained, the 40% decrease in NASDAQ will put gold more than $ 3,800.
Gold Bitcoin Comparison
SCHIFF added that even if the gold is $ 3,800 and the Bitcoin is $ 20,000 for gold, the Firstborn Crypto will decrease by 85%, and Bitcoin is likely to end the comparison of a repository of value similar to gold.
“There will be no justification for the US or state government to maintain Bitcoin in a strategic protection area. There is no reason for ETF investors to maintain their position. It is impossible to sell enough Bitcoin to avoid bankruptcy through all sales.”
At the time of writing, Bitcoin is $ 82,433, with a market cap trading more than $ 1.6 trillion.
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