Peter Schiff has returned with yet another critique of Bitcoin, but this time his commentary may carry more weight than his typical gold enthusiast rhetoric. Known as one of the most vocal opponents of cryptocurrency, Schiff is not merely opposing BTC for ideological reasons; he is highlighting trends that are evident in the market data.
Following Bitcoin’s peak at $126,000 last year, it has since experienced a decline of approximately 30%, while gold has appreciated by 65% during the same timeframe. This disparity is creating a significant narrative challenge. Schiff argues that Bitcoin’s failure to keep pace with gold raises serious doubts about its reputation as “digital gold.” The market appears to be gradually recognizing this discrepancy.
“There’s an expectation that Bitcoin will emulate gold’s upward trajectory and reach new heights. However, speculators have been given too much leeway to accumulate positions. More likely than not, Bitcoin’s inability to replicate gold’s gains will weaken its narrative as digital gold and could lead to a dramatic downturn.”
— Peter Schiff (@PeterSchiff) January 19, 2026
In essence, Schiff believes that the extended buying opportunity provided to speculators may culminate in what he describes as a “dramatic downturn.” What makes this forecast particularly alarming is the current chart configuration.
Bitcoin finds itself on the verge of forming a death cross between its 23-day and 50-day moving averages around the critical price level of $100,000—a pivotal point for cryptocurrencies. The 200-day EMA currently hovers near $69,000 and acts like a magnet for prices currently situated around $93,000. Should it revert back towards this level—which was also its all-time high in 2021—it would represent a substantial drop of about 27%.
Has MicroStrategy Avoided Buying Bitcoin?
The uncertainty continues as MicroStrategy remains silent on their activities. Typically on Mondays, Michael Saylor announces new corporate acquisitions of Bitcoin; however today he simply tweeted “Bitcoin never takes holidays,” without revealing any purchases.
Peters Schiff wasted no time responding by stating that “you can lose money in Bitcoin every day.”
If prices fail to rebound into the range of $101,000-$102,000 per BTC, where key moving averages converge, we might see an acceleration in selling pressure. It seems possible that Schiff’s prediction isn’t just mere provocation; there could indeed be merit behind his warning about an impending “dramatic downturn.”