Peter Schiff has warned that Bitcoin could suffer the opposite fate of silver after the metal posted a sudden, sharp rise. Based on reports, traders and analysts are debating whether the move in silver marks a broad shift back to real assets or a brief, crowded trade that may unwind quickly.
Silver’s Rapid Climb
According to trading data, silver jumped more than 10% in a single session and rose from about $78 to $79 in roughly ninety minutes.
Spot silver climbed 18% last week to close at a record $79.31 on thin post-Christmas volume and its new status as a strategic metal.
Reports have disclosed that this rally is being driven by a supply deficit and Washington’s decision to classify silver as a critical mineral, not by geopolitics or hopes for US rate cuts.
A TradingView chart showed a near-vertical breakout, and a monthly RSI reading reached its highest level in 45 years, a sign of extreme momentum.
What is happening with silver may soon be happening with Bitcoin, o
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