Has Bitcoin Entered Pro-Longed Bear Market? Peter Schiff Slams BTC Price Decline As Gold Surges Back Above $5,000

Core Viewpoint - Peter Schiff has reignited the discussion on Bitcoin's market status, suggesting it has entered a prolonged bear market when priced in gold, as Bitcoin's value declines while gold's price rises sharply [1][2][4]. Group 1: Bitcoin's Market Performance - Schiff claims Bitcoin is in a long-term bear market when evaluated against gold, stating that gold is "real money" and Bitcoin is intended to be "digital gold," making gold-based pricing more relevant [3][6]. - He noted that gold has rebounded above $5,000, reinforcing the narrative that real assets are gaining traction [6]. Group 2: Critique of U.S. Crypto Policy - Schiff criticized the U.S. political support for cryptocurrency, contrasting it with China's focus on industrial investments and gold accumulation [4][5]. - He referenced comments from President Trump, who expressed strong support for crypto, arguing that if the U.S. does not lead in this area, China will take the lead [5][6].