Peter Schiff Predicts Bitcoin Will Fall Below $60,000, Urges Shift to Gold
Peter Schiff has long argued that gold, rather than Bitcoin, is the safe-haven asset for protection against inflation and geopolitical risk, while questioning Bitcoin's status as “digital gold.” He believes cryptocurrencies lack the tangible value underpinning gold and silver when war and price pressures intensify, and says investors should reassess their asset allocations.
As of July 20, 2026, Schiff's latest warning said Bitcoin could fall below the key $60,000 support level and subsequently slide toward $40,000, implying a potential decline of about 33%. He advised investors to sell cryptocurrencies and move into gold and silver, but the related reports cited no specific institutional research or price targets for precious metals.
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The history behind this eventVeteran Trader Peter Brandt Considers Selling Bitcoin for Gold
Factor Trading founder and veteran trader Peter Brandt has long tracked Bitcoin and gold. He believes the long-term XAU/BTC chart is forming a double bottom, signaling that Bitcoin’s dominance over gold is weakening. That could indicate capital is shifting back toward traditional safe-haven assets in a new macroeconomic cycle.
Brandt recently said he was considering selling some of his Bitcoin to buy gold and expected gold to rise sharply against Bitcoin. As of July 19, 2026, he had not confirmed executing the trade or disclosed the amount of BTC he might sell, the value of the proposed reallocation or a specific timetable.
Peter Schiff’s Warning That Bitcoin Could Fall Back to $20,000 Sparks Community Debate
Gold advocate and economist Peter Schiff, a longtime Bitcoin bear, has questioned the intrinsic value of crypto assets for years. Bitcoin fell below $20,000 on June 18, 2022, lending his latest warning resonance in discussions about high volatility and the risk of cyclical pullbacks.
Schiff recently said Bitcoin was still below $20,000 about 3.5 years ago and that, given its historical volatility, a return to $20,000 was not impossible. The Bitcoin community quickly pushed back, highlighting his long record of bearish calls and the multiple rallies he missed, while mocking the prediction as lacking credibility.
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