Bitcoin vs. Gold Narrative Heats Up as Peter Schiff Calls the Bottom a Mirage
The December crypto debate is shaping up not around ETF flows or halving expectations — but around something older: gold vs. Bitcoin.
- Peter Schiff expects Bitcoin to keep falling in December.
- Gold and silver are still climbing while BTC erased yearly gains.
- Macro easing could still trigger a Bitcoin rebound despite bearish calls.’
Peter Schiff is seizing the moment. With Bitcoin tumbling from record highs and gold breaking into one of its strongest yearly rallies, the longtime gold advocate claims the markets are proving his point.
Rather than focusing on where Bitcoin stands today, Schiff is looking at relative performance since January. He argues that Bitcoin has gone from hype-driven highs back toward negative returns — despite massive buying from public companies and nonstop crypto headlines. Gold, meanwhile, has marched higher almost invisibly, without corporate endorsements or marketing buzz.
His conclusion is blunt: Bitcoin hype doesn’t equal Bitcoin value.
November Was Supposed to Be Bitcoin’s Month — and It Wasn’t
The shock isn’t just that Bitcoin fell. It’s when it fell. November is historically Bitcoin’s most profitable month, and yet this year has turned into its sharpest decline since 2017. The sell-off from the $126,000 all-time high wiped out the gains accumulated earlier in the year and pushed the YTD performance into the red.
Schiff sees this as a signal, not noise — and believes the decline will spill straight into December and likely beyond.
A Split Market: Some See Doom, Some See Opportunity
Not all analysts share Schiff’s pessimism. Arthur Hayes, for example, claims the recent wick down to the low-$80,000 region was the last true flush of the cycle. He expects Bitcoin to defend that threshold even if the broader economy suffers.
So one camp says the crash is just beginning. The other says it already ended.
What the Calendar Doesn’t Tell the Whole Story
December has historically been red whenever November closes in the red — and that pattern has repeated four of the past six times. But the macro backdrop for 2025 looks very different from previous years. The Federal Reserve is widely expected to cut rates again next month, and quantitative tightening is scheduled to stop on December 1.
Cathie Wood believes that liquidity relief could be the ignition Bitcoin needs after weeks of forced selling and panic.
The Real Question for December
The market isn’t just choosing between bullish and bearish forecasts. It’s choosing between two worldviews:
• Is Bitcoin still the higher-beta monetary asset that outperforms when liquidity expands?
• Or is gold reclaiming dominance as the safest store of value when investors lose patience with volatility?
December won’t settle the debate forever, but it may decide which narrative enters 2026 with momentum.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
