Peter Schiff Says Bitcoin’s Q4 Rally Peak Might Already Be In
Veteran gold advocate and Bitcoin skeptic Peter Schiff warned that Bitcoin’s recent Q4 rally peak may already be in place. Referring to past fourth-quarter surges—720% in 2013, 350% in 2017 and 59% in 2021—Schiff questioned whether this year’s rally, which sent Bitcoin above $108,000 and near $124,500, has reached its ceiling. In a succinct tweet, he commented, “The top must be made at some point so it may have already been made.” Schiff also forecast gold rising to $6,000 by next year’s end and predicted a drop in the dollar index to 70. He expects renewed volatility in gold, silver and stock markets after the U.S. holiday break. Bitcoin bulls cite historical late-year melt-ups to argue for further upside, while skeptics like Schiff warn of a looming correction in this market cycle.
Bearish
Peter Schiff’s assertion that Bitcoin’s Q4 peak may already be in could fuel profit-taking among traders who benchmark recent price levels and discourage new long positions. Historically, high-profile bearish forecasts have led to sell-offs, as seen after warnings during the 2017 parabolic run. In the short term, this skepticism may increase volatility and trigger technical corrections around resistance levels near $124,500. Over the medium term, divergent views between bulls citing past late-year surges and bears like Schiff could create choppy price action, with traders waiting for confirmation before committing. While Bitcoin’s underlying fundamentals remain intact, such high-profile warnings tend to tilt market sentiment toward caution, suggesting a bearish bias in the coming weeks.