Reacting to the early November bout of volatility in the stock, cryptocurrency, and commodity markets, American economist and prominent ‘gold bug’ Peter Schiff concluded that investors might be facing the last good opportunity to sell Bitcoin (BTC) before a more decisive crash.
Specifically, Schiff highlighted the U.S. equity and precious metals’ strong Monday rally and juxtaposed this performance with the fact that BTC remained ‘below key support at $75,000′.
In his assessment published in a November 9 X post, such a setup indicates that ‘there’s a short window before the crash’ and urged his followers to ‘make sure to sell before it closes.’
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Peter Schiff elaborated on his thesis in a different post made on the same day, saying that, despite the volatility that took hold of the markets after the midterm elections, ‘stocks are basically flat’, both Gold and Silver both rallied, and Bitcoin dropped more than 4%.
The American economist appears to believe that the early November trading is indicative of the long-term performance of major assets.
Gold and Bitcoin price performance in 2026
Meanwhile, though it remains uncertain if Peter Schiff’s forecast for Bitcoin will come true, the world’s premier cryptocurrency has suffered a stubborn downturn in recent weeks.
Following a 37% rally between mid-August and late September, BTC began dropping after a brief pause and is, at its press-time price of $74,302, 13.21% down from its recent highs near $87,000.
Year-to-date (YTD), Bitcoin is 15% in the red.
Notably, Gold is also down in 2026, having fallen 5.63% overall from approximately $4,331 to $4,075. Additionally, despite Schiff’s bullish prediction and the 5% rise in November, the precious metal is nearly 13% below its recent, late August highs near $4,680.
Will the stock market remain ‘basically flat’ in 2027?
Lastly, the stock market appears even more uncertain than the world’s premier cryptocurrency or the largest commodity by market capitalization. Overall, the benchmark S&P 500 index is 10.08% in the green YTD, in stark contrast to both Bitcoin and gold.
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Individual stocks, however, show a far greater variance in performance. Through much of 2026, big tech has been a major driver of growth thanks to the artificial intelligence (AI) boom, while most of the other sectors were either stagnating or declining.
The latest developments, meanwhile, raised the question of whether this strength can be retained or if a greater crisis is imminent as the contradictions of what has arguably become the AI bubble become more severe and more evident.
Featured image via Shutterstock
