The CEO of Euro Pacific Capital, Peter Schiff, has published a poll on Twitter, asking the bitcoin users to predict between Bitcoin and Gold which would hit the $3000 first. During the poll, many of the followers voted for Gold. While disagreeing with them (followers), Schiff stated that before Gold, Bitcoin would crash to $3000.
In his tweet, Schiff mentioned, “A CNBC anchor responded to Citi’s call that #gold will hit 2K in the next 12-24 months by dismissing the potential as being too low a return to the matter.”
#Gold is up another $27 so far today, above $1,640, a new 7-year high in U.S. dollar, and all-time record high in other currencies. #Bitcoin is currently trading at $9,700. Which do you think will hit $3,000 first?
— Peter Schiff (@PeterSchiff) February 21, 2020
According to the reports, the gains from Q3 2019, has helped the stock market to go All-Time High.
Housing Market Crash
The report further stated that Schiff has always believed that central banks like the Federal Reserve could not afford to expand its supply of money, especially to unstable, corrupt and war-torn countries. Therefore, Schiff founded the Euro Pacific to help those investors so that they could buy non-dollar securities.
Earlier, Schiff has predicted that due to low-interest rates by Federal Reserve the housing market would get crashed. At that time many of the mainstream financial analysts did not believe his prediction but as his prediction came true Schiff’s net worth reached approximately $70 million.
Bitcoin Would Not Jump Back To $3000: Peter Brandt
The report added that bitcoin investors did not believe Schiff’s prediction regarding Bitcoin and Gold, for the same reason he was right about the housing market crash.
At present, the Bitcoin has been trading at $9685 but if it (Bitcoin) jumps back to $3000 it would be harmful. Recently, a veteran chartist Peter Brandt also predicted that if the Bitcoin would jump back to $3000 then its story would end.