As gold prices surpassed the all-time high of $3,300, Bitcoin dropped to the $83,000 range. According to Google Finance, gold continues its rally, crossing $3,300. Peter Schiff, a gold investment advocate, doubts Bitcoin's future and urges investors to sell all their Bitcoin.
At the beginning of this month, gold prices started at $3,114.040. It rose to $3,132.63 the next day but fell to $2,980.780 between April 3rd and 7th. This coincided with global market uncertainty due to Trump's aggressive tariff policy and a 90-day grace period for non-retaliatory countries.
On April 8th, the market saw a balanced buying and selling pressure, forming a long-legged doji candlestick pattern on the daily chart. From April 9th, the trend changed and showed a steady upward movement. Particularly, it surged by over 8.52% between April 9th and 11th.
The gold market is currently showing strength. Gold, which started at $3,230.255 today, is now trading at $3,296.745. This trend is expected to continue rising today.
Meanwhile, Bitcoin prices fell below $83,380. The BTC market has dropped by over 2.6% in the past 24 hours. Current BTC price is 5.87% lower than its monthly high and 23.53% lower than its all-time high of $109,000.
The Bitcoin market declined by over 11.7% in the first quarter of this year, in contrast to the 68.7% rise during the same period last year.
Renowned gold investment advocate Peter Schiff pessimistically forecasts Bitcoin's future and recommends investors sell all their Bitcoin and buy gold mining stocks.
According to Yahoo Finance, gold exploration, mining, processing, and smelting companies have risen an average of 16.69% in the past 30 days. The sector's year-to-date return is 47.16%, one-year return is 60.29%, three-year return is 26.77%, and five-year return is 73.77%.
Newmont is up 46.64% year-to-date, AngloGold Ashanti is up 89.90%, Royal Gold is up 40.31%, Coeur Mining is up 6.64%, Sibanye Gold is up 9.20%, Caledonia Mining is up 44%, and Idaho Strategic Resources is up 78.41%.
When Bitcoin peaked in December last year, MicroStrategy co-founder Michael Saylor advised major US tech companies, including Microsoft, to adopt an aggressive BTC buying strategy.
MicroStrategy is the largest Bitcoin-holding public company, with 528,185 BTC (approximately 44 trillion 509 billion won). Schiff criticized MicroStrategy's BTC buying strategy and predicted BTC could fall to $10,000.
Prominent cryptocurrency analyst Eric Balchunas emphasized that MicroStrategy is significantly ahead of US tech stocks in 2025. MicroStrategy's stock price has risen 147.78% in the past year, up 7.29% year-to-date, and 5.59% in the last 30 days. In contrast, according to Yahoo Finance data, the US tech sector rose only 6.82% in the past year and declined 14.56% year-to-date.
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