Peter Schiff Declares Bitcoin "Won't Go Up" as Markets Rally

Source: CryptoNewsNet Original Title: Peter Schiff Declares Bitcoin “Won’t Go Up” as Markets Rally Original Link: Peter Schiff, an economist and long-term Bitcoin critic, stirred the debate again with a straightforward statement doubting the future of Bitcoin. He reasoned that when tech stocks go up, Bitcoin does not follow, and when gold and silver reach record highs, neither does Bitcoin. Schiff argues that this action is a demonstration that Bitcoin will never appreciate. Crypto Rover reinterpreted this remark, making the point instead a possible market bottom indicator rather than a death knell.

Bitcoin Underperforms as Traditional Assets Skyrocket

Bitcoin was trading laterally around 87,000 when Schiff made the statement. In the meantime, conventional markets performed well. The Nasdaq advanced, while precious metals continued their historic run. Strong gains of about 4.5 percent were experienced in gold and about 69 percent in silver, which represented significant monthly gains. This deviation provided Schiff with the ammunition to strengthen his long-standing skepticism.

Since 2010, Schiff has written critically about Bitcoin. He has described it as a bubble, scam, and a failed store of value across various market cycles. Ironically, crypto traders consider his bearish calls as contrarian signals. Many significant Bitcoin surges were preceded by times when Schiff declared the asset was finished. His commentary has become a sentiment gauge rather than a forecast due to his consistency.

Psychology of the Market

Short-term traders are concerned by Bitcoin’s failure to move with risk-on assets. The kind of capitulation-like sentiment generated through flat price action amid general market strength reflects lack of confidence and wearisome selling pressure. This attitude is reflected in responses to Crypto Rover’s post. Many traders interpret Schiff’s words as an indication that pessimism is at its height.

Breaking the Bond on a Macro Level Sparks Micro Discussion

Recent Bitcoin price action indicates its transforming status. The asset is no longer tracking technology stocks or gold consistently. This decoupling represents a weakness to some investors, while others view it as a phase transition—Bitcoin will re-price before the next significant trend. Traditionally, market bottoms do not form during optimism; they emerge when narratives become combative and trust disappears. Schiff’s statement that Bitcoin won’t appreciate fits this pattern for many experienced traders. While there is no clear indicator of an imminent turnaround, sentiment has evidently reached an extreme level.