Bitcoin falls 17% in November as Peter Schiff predicts further decline in December while gold and silver post strong YTD gains.
Bitcoin is set to close out its worst November in seven years, and economist Peter Schiff has forecasted that the decline could continue into December.
The flagship cryptocurrency has fallen by over 17% this month, pushing its year-to-date (YTD) return into negative territory. Schiff believes Bitcoin’s downward trend will stretch into the new year, while traditional assets like gold and silver continue their upward momentum.
Peter Schiff Expects Bitcoin Weakness to Continue
Peter Schiff, known for his pro-gold stance, commented on Bitcoin’s recent downturn via a post on X.
He stated that Bitcoin, despite strong corporate interest from firms like MicroStrategy, is still down for the year. In contrast, he said gold and silver have gained 60% and 95% YTD, respectively, without the kind of promotional efforts seen with Bitcoin.
Schiff argued that Bitcoin’s recent drop reflects its volatility relative to physical assets.
He suggested that this trend may carry forward into December and early next year. The comparison between the performance of Bitcoin and traditional metals has been part of his long-running skepticism of digital currencies.
His remarks come after Bitcoin fell from an all-time high near $126,000 earlier in October. The decline has wiped out all of Bitcoin’s earlier gains this year, turning 2025 into a negative YTD performance for the token.
Bitcoin Historical Patterns Show Red December May Follow
Data from CoinGlass shows a pattern that could support Schiff’s prediction. In years when Bitcoin ends November in the red, it has also posted losses in December. This pattern appeared in 2018, 2019, 2021, and 2022, suggesting a possible trend continuation for 2025.
November is historically Bitcoin’s strongest month, with an average return of 41%. This year’s 17% monthly decline, therefore, breaks that pattern. This change in trend has made market watchers cautious, especially with previous years showing similar movement into December.
Arthur Hayes, co-founder of BitMEX, has taken a different view. He said Bitcoin’s bottom may already be in and expects the price to stay above $80,000, even if volatility continues. Hayes pointed to market resilience despite macroeconomic pressure.
Related Reading: Sell Your Ethereum And Buy BTC, Bitcoin Critic Peter Schiff Says As ETH Breaks $3,700
Market Conditions May Offer Some Support
Some macroeconomic factors could shift conditions for Bitcoin in December.
One of them is the U.S. Federal Reserve’s upcoming policy decision. The Fed is expected to end its quantitative tightening program on December 1, which could introduce more liquidity into the financial system.
The odds of a 25-basis-point interest rate cut at the December FOMC meeting are currently 85%, according to market expectations.
A rate cut could ease pressure on high-risk assets, including cryptocurrencies. Analysts are watching closely for signs of a shift in investor sentiment.
Cathie Wood, CEO of Ark Invest, recently said that the current liquidity squeeze could end next month. She believes this could support Bitcoin and other digital assets.
However, with Bitcoin’s negative momentum in November and historical trends against it, traders remain cautious heading into the final month of the year.
Source: https://www.livebitcoinnews.com/btc-news-bitcoin-faces-bearish-december-as-peter-schiff-predicts-decline/
