Bitcoin Slumps 27% Against Booming Gold, Stokes Debate on Stealth Bear Market

Bitcoin is trading below 27 oz of gold, down 27% from its record high of 37 oz 2.5 years ago. This is a "stealth bear market" per Peter Schiff.

Bitcoin's price is $63,660 but hasn't revisited its all-time high of $73,000 from March.

Gold has been pumping in 2024, up 17% and setting new all-time highs.

Schiff has famously criticized Bitcoin, declaring it would never hit $50k back in 2019.

With the upcoming Bitcoin halving, crypto watchers anticipate impact on BTC's price - historically it has gone up after dipping.