Join Our Telegram channel to stay up to date on breaking news coveragePeter Schiff said Bitcoin is approaching “bear market territory” when priced in gold, a claim that provoked a ferocious response from crypto supporters on X. That’s as the largest crypto by market cap trades flat at around $110K while the commodity’s price continues to soar. Bitcoin price chart (Source: CoinMarketCap)Gold Price Soars To New All-Time HighSchiff’s post comes as gold’s price continues to climb. Gold price chart (Source: TradingView)That follows gold’s surge of more than 8% over the past two months, and over 36% in the last year. In June, he said that gold’s price rose while BTC’s value dropped during the Israel-Iran conflict, and in July he dismissed Bitcoin as a viable hedge against US dollar instability.