Galaxy

Bitcoin

Hive

Gold

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In a recent post on the X social media network, cryptocurrency critic Peter Schiff has <a href="https://x.com/peterschiff/status/1779983288855040085?s=46&amp;t=dYF0hpz-gFc8HcetSehFUQ" rel="noopener noreferrer nofollow">questioned</a> bullish Bitcoin (BTC) price predictions.&nbsp;
The gold bug is not sure whether or not the cryptocurrency can surge to the $100,000 level given that major cryptocurrency-related stocks are now in a bear market.
Even though the definition of a bear market is somehow murky, analysts typically agree that it occurs when a certain stock experiences a 20% decline.&nbsp;
As noted by Schiff, the Coinbase (COIN) stock is down more than 21% from its recent high.&nbsp;
Other major cryptocurrency-related stocks, such as Microstrategy (MSTR) and Galaxy Digital (GLXY), are also in the bear market territory.&nbsp;
In the meantime, major mining stocks, such as Marathon Digital (MARA), Riot Platforms (RIOT) and Hive Digital (HIVE), are down more than 50% from their peak.&nbsp;
As <a href="https://u.today/bitcoin-miners-to-face-10-billion-blow-from-halving?amp" rel="noopener noreferrer nofollow">reported by U.Today</a>, Bitcoin miners are predicted to lose a whopping $10 billion due to the impact of the upcoming halving event.&nbsp;
In a few days from now, block rewards will be reduced in half, which will make it more challenging for miners to remain profitable.&nbsp;
Moreover, miners now have to compete with tech giants that are investing billions of dollars into powerful data centers due to the growing popularity of artificial intelligence.&nbsp;
<h2 id="gold-outperforming-bitcoin">Gold outperforming Bitcoin&nbsp;</h2>
In a separate post, Schiff also took another dig at the “digital gold” narrative surrounding Bitcoin.&nbsp;
He claims that ETF buyers should ask themselves why gold is up nearly 2% on the same day the price of its digital version took a hit due to growing geopolitical tensions.&nbsp;
“Maybe your thesis is wrong and you should sell your fool's gold and buy the real thing,” he added.
The price of Bitcoin is currently sitting at $63,475.&nbsp;

Peter Schiff Questions $100,000 Bitcoin Price Predictions

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