In response to volatility in the stock, cryptocurrency and commodity markets in early November, American economist and prominent ‘gold bug’ Peter Schiff concluded that investors might be seeing their last good opportunity to sell Bitcoin ($BTC) before a more decisive crash.
Schiff pointed to Monday’s strong rally in U.S. equities and precious metals, contrasting it with $BTC’s position, which remained ‘below key support at $75,000’.
In an assessment shared in an X post on November 9, Schiff said this setup suggests ‘there’s a short window before the crash’ and urged his followers to ‘make sure to sell before it closes.’
In case Bitcoiners haven't noticed, the stock market is up big today, including tech and precious metals mining stocks, plus gold and silver. Yet Bitcoin is down again, trading below key support at $75K. There's a short window before the crash. Make sure to sell before it closes.
— Peter Schiff (@PeterSchiff) November 9, 2026
In another post that day, Schiff expanded on his thesis, saying that despite the volatility that gripped markets after the midterm elections, ‘stocks are basically flat’, Gold and Silver both rallied, and Bitcoin fell more than 4%.
Schiff appears to believe early-November trading is indicative of the long-term performance of major assets.
Since the midterms, despite high volatility, U.S. stocks are basically flat, while Bitcoin is down over 4%. Yet over the same period, gold is up over 5%, silver is up almost 7%, and gold mining stocks are up more than 18%. This is a sign of things to come. Invest accordingly.
— Peter Schiff (@PeterSchiff) November 9, 2026
Gold and Bitcoin price performance in 2026
It remains uncertain whether Schiff’s forecast for Bitcoin will come true, but the world’s premier cryptocurrency has endured a persistent downturn in recent weeks.
After rallying 37% between mid-August and late September, $BTC began to decline following a brief pause. At its press-time price of $74,302, it is 13.21% below its recent high near $87,000.
Year to date (YTD), Bitcoin is 15% in the red.
Gold is also down in 2026, falling 5.63% overall from approximately $4,331 to $4,075. And despite Schiff’s bullish prediction and the 5% rise in November, the precious metal remains nearly 13% below its recent late-August high near $4,680.
Will the stock market remain ‘basically flat’ in 2027?
Finally, the stock market appears even more uncertain than the world’s premier cryptocurrency or the largest commodity by market capitalization. Overall, the benchmark S&P 500 index is 10.08% up YTD, in sharp contrast with both Bitcoin and gold.
Individual stocks, however, have shown much greater variation in performance. For much of 2026, big tech has driven growth, thanks to the artificial intelligence (AI) boom, while most other sectors have stagnated or declined.
Recent developments have raised the question of whether this strength can be sustained or whether a larger crisis is imminent, as the contradictions of what has arguably become the AI bubble grow more severe and apparent.
Featured image via Shutterstock
Source: finbold.com. Adapted by NBTC.
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