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Prominent financial commentator Peter Schiff is busy rejoicing over the most recent Bitcoin price crash.
The gold bug correctly predicted that the cryptocurrency would struggle to maintain the $100,000 level.
Meanwhile, gold successfully recovered the $4,100 level after a significant correction.
“My Bitcoin record has really improved over the last few years. Pay attention, HODLers!” Schiff stated in his social media post.
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Gold has strongly outperformed Bitcoin this year, gaining more than 50% against the leading cryptocurrency.
Even a broken clock can be right
Of course, it’s worth noting that this accurate prediction doesn’t make up for years of horribly wrong Bitcoin calls.
As reported by U.TodaySchiff made his first bearish prediction of the price of Bitcoin while appearing on a radio show with Donald Norman as early as 2011. At that time, the cryptocurrency was changing hands at only $31. This means that those who really listened to Schiff’s advice missed out on huge gains. Bitcoin ended up becoming the best performing asset of the previous decade.
