Peter Schiff: The Stock Market Isn’t Done Dropping And Bitcoin Is Going To $1,000

Peter says once investors realize what is going on, there will be a flood of money moving into gold & silver. Here’s the details…

Peter Schiff via Peter Schiff Podcast

In this update, Peter discusses the stock market drop on Monday. Recall that last Friday, Peter said there was a possibility the markets could crash on Monday.

Peter does not think that Monday was the end of it, however. He thinks the stock market crash is just getting started.

The same is true for Bitcoin, according to Schiff, and he says its’ ultimately going to start dropping even faster than what it already has been.

He says the rise in Bitcoin was much faster than the drop, which is very rare, which is why he’s looking for Bitcoin to fall in price even faster.

Peter says that while the metals dropped on Friday, they held their ground on Monday for a small gain.

Peter says that once investors come to terms with what is going on, money will rush into the gold sector.

The problem is that the Fed is a box, according to Peter.

If they step in to save the markets, then the Fed will have to admit that all the hype about the markets and the economy is wrong.

If the Fed doesn’t step in to save the markets, they will keep crashing.

All that and more can be heard in its entirety below: