Longtime Bitcoin critic and economist Peter Schiff has again declared that BTC’s rally has run its course, arguing instead that gold and silver are entering what he described as the “biggest precious metals bull market in history.”
In a series of posts on X, Schiff said recent market moves showed investors were shifting toward traditional safe-haven assets, even as BTC prices saw recent growth.
XM.com
Bitunix
Bitget
Gold, Silver and Bitcoin
On Monday, Schiff highlighted the recent growth in the prices of gold and silver, criticizing how “all attention” remained focused on Bitcoin.
“All the action tonight is in precious metals,” Schiff wrote on X. “Gold is up 1.35%, silver is up 3%, palladium is up 3.5%, and platinum is up 5%.”
He added: “We’re early in what will likely be the biggest precious metals bull market in history.”
“Yet all attention remains on Bitcoin, despite that mania being over. The rally is gaining momentum.”
Schiff said gold had moved “above $4,400” per ounce while silver had risen “above $76,” reinforcing his view that investors were underestimating the scale of the move.
His comments drew pushback from some users, including one who replied: “You said buy at $4,534 and the price is down 5.5%.”
Schiff responded by defending his long-term outlook.
“Yes, I’ve said buy for the entire bull market, which began when gold was under $300,” he wrote.
Adding: “Soon the price will be well above $4,534. As of now, it’s only 3% below that price.”
Gold and Silver Deliver Strong Gains in 2025
Gold and silver prices have posted sharp gains over the past year in both domestic and international markets.
At the time of publication, gold was trading at around $4,435, posting growth of nearly 30% in six months.
Meanwhile, silver saw even stronger gains, currently trading at $76.58 per ounce, up almost 100% in six months.
While gold and silver typically grow in tandem, the latter has consistently shown higher growth over the past year.
Bitcoin Bulls Remain Optimistic
Despite Schiff’s comments, some analysts remain cautiously optimistic on Bitcoin’s outlook.
Japan-based crypto research firm XWIN Research said Bitcoin could reach as high as $170,000 this year, although it described the scenario as having a low probability.
The firm said the forecast depends on “early interest rate easing and stabilized ETF inflows.”
“Without this catalyst, Bitcoin’s price may struggle to break its current downtrend,” the analysis said, adding that the most likely scenario sees Bitcoin trading between $80,000 and $140,000.
Meanwhile, bullish commentators such as the self-proclaimed world’s smartest man, Mike Alfred and Tom Lee have shared forecasts ranging from $150,000 to $1 million.
Bitmine’s Tom Lee came under fire last week after arguing that recent strength in precious metals supports a bullish case for digital assets.
In a post on X, Lee wrote: “If these large commodity markets make such a move, how can one be skeptical of digital assets in 2026?”
Last week, YoungHoon Kim, who claims to have an IQ of 276, predicted that Bitcoin would surge to $276,000 by February 26.
However, Kim’s predictions have so far all failed to come true.
In November, Kim told followers on X that Bitcoin would surge to $220,000 within 45 days, more than doubling from levels at the time.
He also claimed that “Bitcoin may replace USD by 2026.”
Bitcoin’s Technicals Look Brighter
From a technical standpoint, CCN analyst Victor Olanrewaju said Bitcoin is looking in a positive direction.
According to the analyst, the Awesome Oscillator has turned positive for the first time since mid-October.
“If this bullish momentum holds, Bitcoin could soon rally toward $98,139,” he wrote.
Adding: “In a highly bullish crypto market, the price might even target $103,518.”
However, there also remains a risk of reversal, which could see Bitcoin fall back below the $85,000 support zone.
