Bitcoin detractor Peter Schiff predicts that the price of Bitcoin will drop below $58,000. He argues that Bitcoin is not even comparable to silver, which recently surged above $31 per ounce. Gold also reached a new record high of $2,586 while Bitcoin dipped below $60,000. The Federal Reserve's upcoming interest rate decision is contributing to the rally in precious metals. Bitcoin sentiment has turned negative again, with the "Fear and Greed" index falling into the "fear" zone. Schiff has a track record of bearish predictions about Bitcoin compared to gold.



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