Peter Schiff says, ‘Bitcoin is topping out’ – Is he right this time?

Key Takeaways

What’s happening with Bitcoin ahead of the September rate cut?

Bitcoin’s looking like it’s ready for a little nap, just as traders are hoping for some excitement with the upcoming policy change. Oh, the drama! 💥

Why is Peter Schiff warning about Bitcoin now?

Peter “Gold is life” Schiff has decided to throw some cold water on Bitcoin’s party. Apparently, while gold and silver are partying hard, Bitcoin’s just standing there, sipping its drink, looking awkward. 😬

As the Federal Reserve gears up for its supposed rate cut in September, Bitcoin is in the spotlight again. But some folks are feeling a little cautious, as if Bitcoin’s about to be that person at the party who pretends to have a great time but actually just wants to leave early. 🎉

Some optimists are still holding onto hope that lower interest rates will give Bitcoin a nice, refreshing boost. But let’s be honest, we’re all a little unsure if it’ll actually show up to the party. 🤷‍♀️

Peter Schiff takes a jab at Bitcoin

Schiff, the man who wakes up every morning and decides to criticize Bitcoin, says BTC is “topping out” before the FOMC meeting on the 17th of September. He’s like that one friend who doesn’t let you enjoy your sandwich because they’ve decided the bread is stale. 🙄

He tweeted (because of course he did):

“The Fed is about to make a major policy mistake by cutting interest rates into rising inflation. Gold and silver have broken out, with the rally finally confirmed by mining stocks leading the way. Yet instead of breaking out, Bitcoin is topping out. Time to change horses HODLers.”

Meanwhile, the Bitcoin/Gold ratio has dipped by almost 1%. Because why wouldn’t it? It’s not like Bitcoin is in the middle of an existential crisis or anything. 🧐

The debate on rate cuts

Jerome Powell, Fed Chair and professional policy maker, is widely expected to give the green light to a 25-basis-point rate cut at the FOMC meeting. Schiff, however, is the guy at the party who says, “I told you so” before anything even happens. 🙄

He’s worried that cutting rates during rising inflation is a *bad* idea, and he’s *very* vocal about it. Gold and silver are doing well, so naturally, he’s comparing those shiny things to Bitcoin’s lackluster performance. It’s like comparing your grandma’s cookies to store-bought ones-just don’t do it. 🍪

Some crypto fans are, unsurprisingly, clapping back on X, defending Bitcoin like it’s their firstborn. One response read:

“I agree with you on Fed policy mistake. But you underestimate Bitcoin…It will most likely break out and make a lot bigger gains than Gold and silver.”

Schiff’s comeback? Classic Peter:

“Maybe, maybe not. Given what’s happened if this was just a consolidation I should already broken out. Given that Bitcoin is still 15% below its 2021 peak priced in gold should be a concern.”

What do analysts have to say?

Dan Held, Kraken’s Head of Marketing and Bitcoin enthusiast, jumped into the fray with his own spicy take. Here’s his pic to prove it (because who doesn’t love a good infographic?) 📈

Meanwhile, Ted Pillows, the crypto market expert who probably has a crystal ball somewhere, believes that Bitcoin’s future is looking bright-so bright that it might reach $3 million. He said:

“You know, 95% of all Bitcoin’s been mined, but 95% of the world doesn’t own Bitcoin. So I just think that there’s still a huge demand versus supply imbalance, meaning there’s a lot more potential buyers of Bitcoin over the next 10 years.”

What’s ahead?

As we inch closer to the rate cut, Bitcoin’s future is…well, let’s call it “neutral-to-bearish” for now. It’s like that friend who can’t decide if they want to come to your party, but at least they’re thinking about it. 🙃

Analysts are still hanging on to hope that once gold’s rally cools down, Bitcoin might finally make its move. Will it? Stay tuned. 🎬

2025-09-16 07:10