Peter Schiff: Bitcoin will fall further before Mt Gox payout

Economist and gold enthusiast Peter Schiff has warned that Bitcoin has re-entered the formal bear market area, with a drop of more than 20% from its historical high. However, looking at the price of gold, the bear market is even more fierce, and Bitcoin has fallen more than 30% in terms of gold prices. The bear market is still young. Be careful below. On Monday, Mt. Gox announced that it will start distributing Bitcoin in July. This gold advocate also warned that the receipt of Bitcoin by Mt. Gox creditors will have an impact. Schiff believes that Mt. Gox's Bitcoin has not even been returned yet. But it will start in July. Therefore, before Mt. Gox's Bitcoin truly enters the market, the price of Bitcoin may drop significantly.