Peter Schiff, a well-known Bitcoin critic, has once again taken aim at the leading digital currency, predicting that its crucial support level of $60,000 will not hold. Schiff, an American stockbroker, has contrasted Bitcoin's outlook with that of gold, which he believes has reached its new $2,000 resistance level.

Gold's Pullback Over, Bitcoin's Pullback Beginning

Schiff first speculated that gold's recent pullback has come to an end, with the traditional asset currently trading at around $2,300. He envisions a resistance level for gold at $2,400, which he thinks won't last long. However, the stockbroker has a different perspective on Bitcoin, predicting that its pullback has just begun.

At the time of writing, Bitcoin was trading at approximately $64,683, representing a 2.77% drop in the past 24 hours. Schiff believes that Bitcoin has support at $60,000, but he doesn't think it will sustain this level for long. This new prediction comes just a week after Schiff warned that a break below the $60,000 mark could trigger a downward spiral to about 20,000.

Differing Opinions on Bitcoin's Price

Despite Schiff's pessimistic outlook, Bitcoin is currently showing a mix of sentiments. Crypto analyst Ali Martinez recently identified a sell signal on the Bitcoin price chart, prompting him to issue a warning to investors. He pointed out that a dip below the $65,500 level could lead to a significant crash for the coin.

On the other hand, seasoned analyst Willy Woo offered a more optimistic view on the BTC price trajectory. He highlighted the decline in Bitcoin's inflation rate, which has now fallen below gold's. Woo believes that this could potentially lead to Bitcoin's market capitalization surpassing that of gold.

Glassnode analysts also predicted a possible surge to $72,000 and identified the 50-day Exponential Moving Average (EMA) at $62,000 as a crucial support level. They suggested that investors should take advantage of short-term dips in BTC's price as buying opportunities.