Bitcoin critic Peter Schiff argues that Bitcoin is in a long-term bear market when priced in gold, as gold’s rebound above $5,000 reinforces the shift towards real assets. Schiff also criticizes U.S. political support for crypto, contrasting it with China’s focus on industrial investment and gold accumulation. Gold prices rose for a second straight session, climbing over 3% to trade above $5,100 per troy ounce, following one of the sharpest sell-offs in decades.

Read more at Yahoo Finance: Has Bitcoin Entered Pro-Longed Bear Market? Peter Schiff Slams BTC Price Decline As Gold Surges Back Above $5,000