Peter Schiff: Bitcoin's Success Depends on Gold's Collapse
Peter Schiff shared his views on the relationship between gold and BTC, Schiff suggested that the success of cryptocurrency depends on the failure of gold.
Schiff: Gold is now up another $8 and trading at a new record high of $2,480. While #altın started to rise, #Bitcoin started to fall. Indeed, Bitcoin appears to be developing a strong negative correlation against gold. This means that for Bitcoin to succeed, gold must fail.
At the time of writing, the price of $BTC increased by 0% to $64.304, while the trading volume decreased by 9% to $37.37 billion.
In the last 24 hours, the cryptocurrency reached $66,066.73, its highest level since June.
On the other hand, Gold Futures reached an all-time high, rising 0.69% to $2,485.45.
