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TechFlow news, November 18: Bitcoin's price recently dropped below $90,000, falling 28.5% from its peak. Renowned economist Peter Schiff pointed out on a social platform that more noteworthy is the fact that Bitcoin has declined 40% against gold, which remains above $4,000. Schiff believes this collapse exposes the falsity of the "digital gold" concept and predicts investors who believe in this notion will sell off.
Bitcoin's price recently dropped below $90,000, falling 28.5% from its peak. Prominent economist Peter Schiff pointed out on a social platform that more noteworthy is the fact that Bitcoin has declined 40% against gold, even as gold remains above $4,000. Schiff believes this collapse exposes the fallacy of the "digital gold" narrative and predicts investors who believed in it will end up selling off.
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