Schiff Takes Victory Lap After Nailing Bearish Bitcoin Price Prediction

Prominent financial commentator Peter Schiff is busy gloating over Bitcoin’s most recent price crash.

The gold bug has correctly predicted that the cryptocurrency would struggle to hold the $100,000 level.

In the meantime, gold has successfully reclaimed the $4,100 level following a significant correction.

“My Bitcoin track record has really improved in recent years. Pay attention, HODLers!” Schiff declared in his social media post.

Gold has vastly outperformed Bitcoin this year, gaining more than 50% against the leading cryptocurrency.

Even a broken clock can be right

Of course, it is worth noting that this accurate prediction does not make up for years of awfully wrong Bitcoin calls.

As reported by U.Today, Schiff made his first bearish Bitcoin price prediction while appearing on a radio show with Donald Norman as early as 2011. Back then, the cryptocurrency was changing hands at just $31. This means that those who actually listened to Schiff’s piece of advice missed out on enormous gains. Bitcoin ended up becoming the best-performing asset of the previous decade.