Bitcoin’s drop below $100,000 on November 14, 2025, sparked a heated debate on X, as long-time crypto critic Peter Schiff once again asked how far the price has to fall before BTC supporters admit he was right.
The latest move down came against a backdrop of broader market volatility, fading expectations for Fed rate cuts and heavy leverage in crypto trading. The correction extended BTC’s decline from its October high above $126,000.
Schiff renews his criticism as BTC slips toward $96,000
Schiff used the pullback to revive the warnings he has been repeating for years. In a series of posts on X, he argued that Bitcoin has “no real value” and compared the current move to the start of a deeper structural reversal. He pointed out that BTC first broke above $100,000 in December 2024 — only to fall back below that level almost a year later.
The most attention came from a public poll Schiff posted, asking followers how low BTC has to fall before “Bitcoiners will admit I was right.” The options were $50,000, $25,000, $10,000 and zero. At the time of writing, “0” led with 58.5%, while $50,000 had 18.7%, $25,000 had 8.1% and $10,000 had 14.7%.
The poll set the tone for the rest of the thread. One user pointed out that early buyers who picked up Bitcoin around $9,000 are still sitting on massive gains. Schiff replied that there’s only a reason to celebrate if they actually lock in profits and sell.
Another commenter suggested digging up Schiff’s old posts to judge his track record over time. Schiff shot back that anyone trying to do that would have to scroll at least four years back to find Bitcoin calls that “haven’t already worked out.”
The market fires back: the debate spills beyond one thread
The discussion escalated after 2VN News claimed Bitcoin could climb above $200,000 within a year. Schiff called that scenario “unlikely.”
In response, many users argued that the “window” for Schiff to be right is already closing. Schiff then asked whether he would still be considered wrong if investors end up losing 90% of their capital through leverage or tax obligations.
Market analyst Crypto Patel joined the conversation and pushed back on Schiff’s stance. He argued that a move below $100,000 does not change Bitcoin’s long-term trajectory. According to him, this level of volatility is normal for the asset, while adoption and institutional demand keep rising.
Patel also noted that gold is having a strong year, but the pace of innovation in digital assets is far higher. His comments echoed Schiff’s earlier remarks, where the gold bug claimed Bitcoin’s weakness is setting the stage for a fresh crypto sell-off. Back then, Schiff pointed to strong global demand for gold and silver and argued that these metals, not crypto, are driving FOMO — while the digital asset industry, in his view, faces a wave of bankruptcies, defaults and layoffs if the declines in Bitcoin and Ether continue.
Old warnings and Schiff’s new attack
Schiff also highlighted Bitcoin’s performance against gold, noting that BTC has dropped more than 30% versus the metal since August. In his view, that points not to a “normal correction” but to a deeper underlying weakness.
He didn’t miss the chance to mock new crypto-related books either, claiming that a more honest title for one of them would be something like “Bitcoin isn’t for anyone.”
All of this fits neatly into his long-standing narrative: Schiff insists that Bitcoin’s 2025 rally was largely driven by decisions made in Washington and on Wall Street. He argues that institutional demand inflated an “unsustainable bubble” that could burst as soon as that support fades.
Upcoming Dubai debate: Bitcoin vs. tokenized gold
Recently, Schiff called for a public debate on these topics. Binance founder Changpeng Zhao accepted the invitation and agreed to a discussion at Binance Blockchain Week in Dubai on December 4. The core topic: comparing Bitcoin to tokenized gold — a product category Schiff has been actively promoting lately.
Organizers expect the event to attract developers, regulators and industry leaders. The agenda includes how digital assets and traditional safe-haven assets like gold interact as tokenization spreads. In this context, Dubai — with its evolving regulatory framework and growing crypto footprint — looks like a natural venue for such a debate.
Narrative battle: gold vs. digital assets
Against this backdrop, Schiff’s latest comments simply pour more fuel on a long-running fire. Bitcoin’s slide below $100,000 has sharpened focus on market conditions and once again exposed the rift between gold advocates and digital asset believers.
At the same time, another drop below this psychological threshold has pushed Schiff’s long-running criticism back into the spotlight and reopened the question of where Bitcoin goes from here. His back-and-forth with users and analysts shows how fiercely both sides defend their views. And the upcoming debate in Dubai guarantees that this argument is not going away anytime soon — especially while the market, and we at FORECK.INFO, keep watching for Bitcoin’s next big move.