Renowned stockbroker and financial commentator Peter Schiff warned that early signs of a slump in the tech stocks rally is not good for Bitcoin because the tech rally was its main driver. At the same time, he predicted that gold prices will likely rise as investors increasingly seek safe-haven assets.
'It looks like the correction in tech stocks has finally begun. That's bad news for Bitcoin, as the tech rally was its main support. As tech stocks sell off, Bitcoin should crash. Gold will likely head in the opposite direction, as investors rush to buy a true safe-haven asset,' Schiff wrote in a late Wednesday post on the social media platform X.
