Peter Schiff points out anti-Bitcoin claim! Peter Schiff is a famous gold bug, and has recently tweeted that it’s the only asset class not rallying at the end of 2019.
Meanwhile, the United States Stock market has hit an all time high – at the same time, Bitcoin is slumping.
Schiff tweeted on Dec. 27:
“Bitcoin is not disappointing those who claim its true value is that it’s a non-correlated asset. Every asset class in the world is rallying into the end of the year except Bitcoin. Not sure what value this actually adds, but at least #Bitcoin is meeting expectations on something!”
The remarks come shortly after all three major stock averages hit their all time highs. The Nasdaq Composite broke the 9,000 mark, the Dow Jones Industrial Average hit 28,621, and the S&P 500 hit 3,239.
But this shouldn’t be news to those who have followed the stock market for the last few decades. Stocks typically surge during the last few days of the year – so consistent is this trend that its called the Santa Claus Rally.
But to put things into perspective, Bitcoin has surged 99% since December 27, 2018, while DJIA is up around 36% year to date. This places Bitcoin as the top performing asset of 2019.
The cryptocurrency market overall hasn’t seen much growth since 2018. Dubbed the Crypto Winter, it was only this year that Bitcoin surged past its plateau of $3,800 earlier this year.
What do you think? Do you think we’ll see an eventful 2020 for cryptocurrency? Let us know what you think on our Facebook Page!
