Bitcoin has once again found itself at the centre of a familiar debate: is it still a long-term winner, or is the risk now too high for new investors?
The world’s largest cryptocurrency slipped to $67,798.20, down 2.26% today, April 8 as broader markets turned volatile following renewed geopolitical tension after a series of attacks by the United States on Iran’s infrastructure. The overall crypto market cap stood at $2.33 trillion, while total trading volume came in at $84.39 billion, according to CoinMarketCap.
Bitcoin’s own market capitalisation fell 2.2% to $1.35 trillion, even as its 24-hour trading volume rose 5.49% to $33.91 billion. The move lower also wiped out the previous day’s gains, when Bitcoin briefly climbed above the $70,000 mark for the first time since March.
And just as Bitcoin stumbled, longtime crypto critic Peter Schiff jumped in with another sharp warning.
“If Bitcoin ends 2026 at $10,000, it will still be the best-performing asset over ten years… But a 92% decline will make it the worst-performing investment for most HODLers,” Schiff wrote on X.
That’s the contradiction Schiff wants investors to understand. An asset can look impressive, but still cause serious damage if most buyers entered at much higher prices.
Why Bitcoin is suddenly under pressure
Bitcoin has not been crashing in a straight line, but it has been stuck in a range.
Since the Iran conflict began in late February, Bitcoin has mostly traded between $60,000 and $75,000. At one point, it climbed to nearly $76,000, only to retreat again. For much of the past two weeks, it has remained below $70,000, showing that investors are still unsure about the next big move.
That uncertainty has only grown after U.S. President Donald Trump warned that “a whole civilization will die tonight” as pressure mounted on Iran to reach a deal or reopen the Strait of Hormuz.
When geopolitical stress rises, investors often move away from riskier assets — and despite all the hype around digital gold, Bitcoin still behaves more like a high-risk trade than a traditional safe haven.
Schiff has repeatedly used that point to argue that Bitcoin’s upside may now be limited.
“The upside potential is limited, whereas the downside risk is significant. The opposite is true for gold,” he said.
Bitcoin vs gold: What new investors should understand
Schiff’s broader argument is not just that Bitcoin can fall — it’s that other assets have quietly done better.
In an earlier post, he pointed out that over the past five years, Bitcoin is up just 12%, while the NASDAQ has risen 57.4%, the S&P 500 has gained 59.4%, gold has climbed 163%, and silver has surged 181%.
Schiff is challenging the belief among investors that Bitcoin always outperforms over time.
For new investors, the bigger lesson may be simpler: Bitcoin can offer huge upside, but it also comes with brutal swings.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.