The new pessimistic predictions have sparked controversy in the financial community, Bitcoin's longtime opponent and gold advocate. According to Schiff's latest comments, Bitcoin Pumpers and CNBC's “paid sills” have not been as low as the recent Nasdaq, so they're doing a big deal about Bitcoin's resilience. But that's because investors want to ultimately follow the money. Bitcoin crashes when you sell because people get tired of waiting.
This claim comes at a time when Bitcoin is fairly stable. Digital assets are currently trading at around $84,000, earning ground above key moving averages such as the 200 EMA. Nevertheless, momentum has been declining in recent sessions, with resistance around the $87,000 mark still strong.
Technical indicators show that despite short-term hesitations, the market is not completely bearish. The RSI is still neutral and the volume is stable. But in the long run, Schiff's story is at odds with reality. Over the past five to 14 years, Bitcoin has outperformed the S&P 500 and gold. Bitcoin has surpassed both Gold's +116% and S&P 500's +306% profit over the last 14 years, earning an astounding +7.2 million% return.
CNBC's Bitcoin Pump and its paid sils have not been as low as the Nasdaq recently, so they do a big deal about Bitcoin's elasticity. But that's because investors want to ultimately follow the money. If they get tired of waiting and selling, bitcoin crashes.
– Peter Schiff (@peterschiff) April 16, 2025
Bitcoin recorded more than 1,100% returns even in the five- to ten-year timeframe, indicating its growth potential and resilience in the face of severe volatility. However, Schiff's criticism represents a growing trend among cautious investors. In contrast to the initial explosive rise, Bitcoin's performance has begun to fall apart in recent years.
This stabilization is driven by institutional benefits, market maturity and more regulations. These factors may have reduced the initial appeal of wild benefits to investors. But the cryptocurrency story is more convincing than ever. Bitcoin is far from the end, as evidenced by the imminent half-event and the expansion of adoption. Short-term fixes are always possible, and stories like Schiff's could bolster the downward trend, so it might be wise to try and avoid overexpansion in current markets.
