Viewpoint: Bitcoin has fallen 20% from its all-time high when priced in gold, indicating that Bitcoin has actually entered a bear market

ChainCatcher news, economist and cryptocurrency critic Peter Schiff posted on social media that Bitcoin has failed to meet market expectations. Priced in gold, Bitcoin's current price has dropped 20% from its all-time high. In other words, Bitcoin has entered a bear market. Given that Bitcoin is revered as "digital gold," its 20% drop in gold terms carries far more significance than a 10% drop in USD terms.