Peter Schiff: Bitcoin has fallen 20% from its ATH in terms of gold, which means Bitcoin has actually entered a bear market

Economist and cryptocurrency critic Peter Schiff has published an article stating that Bitcoin has failed to live up to market expectations. Bitcoin's current price, measured in gold, is 20% below its all-time high reached in August. In other words, Bitcoin has entered a bear market. Given Bitcoin's popularity as "digital gold," a 20% drop in its gold price is far more significant than a 10% drop in its dollar price.