Economist and writer Peter Brandt, who stated that he has been trading in the stock market as a trader since 1975, warned investors about Bitcoin in his latest statement.

The analyst, who has 50 years of experience, pointed out that the Bitcoin price showed a downward trend after the ATH in March, creating lower bottoms and lower peaks.

Implying that consecutive lower highs reflect a bearish trend, Brandt warned that the decline in Bitcoin may continue.

Because Bitcoin, which reached a new ATH of close to $ 74,000 in March, failed to exceed this level in the following months.

Famous Bitcoin critic Peter Schiff accused Peter Brandt of changing his view in the face of a bearish warning.

Gold advocate Schiff asked Brandt if his warning meant that his opinion on Bitcoin and gold had changed.

“Does this comment mean that you are no longer as optimistic as you were on July 19, when you warned me that Bitcoin would outperform gold by 5 times? Since the date of this article, Bitcoin has fallen 4% while gold has increased 2%.”

Does this mean that you are no longer as bullish as you were on July 19th, when you warned me specifically that Bitcoin would outperform gold by 5x. Since the date of that post Bitcoin is down 4%, while gold is up 2%.

— Peter Schiff (@PeterSchiff) August 1, 2024

*This is not investment advice.