Bitcoin Should Be At $148,000 To Match With Gold Rally, Says Peter Schiff

Bitcoin price surged to a fresh all-time high at $126,198, with its market cap surging past $2.5 trillion for the first time. However, Gold buff Peter Schiff calls it a bear market rally, adding that it is still lagging in comparison to the yellow metal. As the Gold rally extends to all-time highs of $4,000 per ounce, Schiff says that BTC should be trading close to $150K, to match the move.

Bitcoin Is Seeing a Bear Market Rally, Says Peter Schiff

Economist Peter Schiff called BTC’s recent rally to an all-time high a “bear market rally,” hinting at a short-term rebound but a long-term bear market decline.  Despite the US government shutdown, BTC has continued to inch higher on expectations of another Fed rate cut this month.

On the other hand, Gold rally has been strong enough, hitting the all-time highs of $4,000/oz. Peter Schiff noted that while BTC briefly traded above $126,000, it remains about 15% below its record high when measured against gold.

Schiff argued that it is “too early for Bitcoiners to get excited” about the current rally. He called it a potential bear market rebound rather than the start of a sustained uptrend. Schiff noted that since gold prices continue to climb, the benchmark for Bitcoin’s all-time high in gold terms is moving higher.

“Based on where gold is now, Bitcoin would need to reach about $148,000 to match its previous record price in gold,” Schiff stated. Crypto market analysts also believe that $150,000 BTC rally is within reach and shall happen by the year-end.

BTC To Catch Up With Gold Rally?

So far in 2025, Gold has been an outperformer to BTC, while recently becoming a $27 trillion asset class. This means that amid the Gold rally, the yellow metal has extended its lead over Bitcoin, by more than 10x. However, both these asset classes continue to be in strong demand.

Ecoinometrics recently shared data noting that Bitcoin and gold remain the leading performers among major asset classes. Bitcoin continues to lead in total returns, while gold maintains the edge in risk-adjusted returns.

Ecoinometrice noted that this performance trend has persisted for the past two years. This underscores investors’ continued preference for hard assets amid broader market uncertainty and macroeconomic shifts. Paul Tudor Jones believes that an explosive ‘Uptober’ rally for BTC is still in the making.

Commenting on the Gold rally, Schiff wrote: “This is a clear warning that current Fed policy is wrong. The Fed needs to reverse course immediately, raise interest rates between meetings, and signal that more rate hikes are coming.”