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Economist and prominent gold advocate Peter Schiff is once again calling the curtains on cryptocurrencies, following a rotation away from digital currencies in favor of precious metals such as gold and silver in recent days.
On Tuesday, in a post on X, Schiff highlighted the rally in precious metals, saying, “Gold is back above $4,125, and silver is back above $51.15,” while popular digital assets such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) continue to languish.
“Today's rotation from tech to value included a rotation from crypto to gold & silver,” hinting at a shift in investor behaviors, with previous metals gaining prominence over digital assets.
See Also: $5,200 Gold Forecast Puts Mining ETFs On The Hot Seat: Opportunity Or Overreach?
He also remarked on growing pessimism among digital-asset investors, saying, “Speculators are throwing in the towel on crypto-related stocks.” Schiff suggested that the sell-off could soon extend further into the broader cryptocurrency market, adding, “Soon they'll give up on Bitcoin too.”
Schiff concluded his post like he usually does, by asking his followers if they’ve “Got gold?” while linking to his website that deals in precious metals for retail investors.
Bitcoin continued to hold steady at $105,000, while other major assets such as Ethereum, Dogecoin (CRYPTO: DOGE) and XRP (CRYPTO: XRP) dipped on Tuesday, after the Senate released a long-awaited draft of the crypto market structure bill, which allows ETFs to stake digital assets and distribute returns to investors.
The bill is expected to advance through various Senate committees by late 2025, before a vote that will likely take place in early 2026 for the passage of legislation.
According to JP Morgan Private Bank, gold’s rally may only be taking a breather in recent weeks, with the yellow metal expected to soar past $5,200 an ounce by the end of 2026, representing an upside of 26% from current levels.
The bank’s analysts expect the realignment of international reserves by global central banks to drive this rally, alongside certain structural weaknesses in the supply of the precious metal. They attribute this to new mining waste management standards, which one-third of global mines still fail to comply.
Schiff has been significantly more bullish on the commodity, making forecasts recently that it could go past $20,000 per ounce, given the substantial macroeconomic and structural tailwinds aligning in its favor.
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