Peter Schiff Urges Ethereum Holders to Sell as ETH/BTC Ratio Hits 0.031
Long time crypto skeptic and gold advocate Peter Schiff is bearish on Ethereum (ETH) again and telling holders to sell.
Quick overview
- Peter Schiff advises Ethereum holders to sell, suggesting they exit while prices are high.
- He believes that flipping into Bitcoin is a better trade than holding Ether due to Ethereum's increasing competition.
- Schiff's bearish stance on Ethereum is part of a history of poorly timed predictions regarding Bitcoin's performance.
- Despite Ethereum's role in smart contracts, Schiff argues its dominance is declining amid rising competition and potential altcoin ETFs.
Long time crypto skeptic and gold advocate Peter Schiff is bearish on Ethereum (ETH) again and telling holders to sell. In a post on X (formerly Twitter) he advised to “exit while prices are near the top of the range” and is not basing his call on ideology.
Despite being a vocal crypto hater, Schiff made a surprising concession: “Flipping into Bitcoin is a better trade than holding Ether”. When asked for clarification he said “I’m just looking at the charts” and that Ethereum has more competition than Bitcoin which still has the “digital gold” narrative.
As of this writing Ethereum is at $3,677 and Bitcoin is at $118,000+ so the ETH/BTC ratio is at 0.031 near the bottom of the 5 year range. Schiff sees this as evidence of a structural bear market for ETH vs BTC and says “Selling Ether to buy Bitcoin makes sense”.
Historic Bearish Calls: Rarely on Target
Schiff’s latest warning is part of a pattern of poorly timed calls that have consistently underestimated Bitcoin’s strength.
Previous Schiff Bearish Calls:
- February 2024: Declared Bitcoin’s $100K rally was over—BTC went to $118K
- March 2024: Predicted a crash to $10K once gold hit $5,000—Bitcoin didn’t budge
- Late 2023: Expected Bitcoin to fall before ETF approvals—spot ETFs launched in January 2024 and Bitcoin rallied
- November 2018: Forecasted BTC to drop to $750 when it was $3,800—Bitcoin went on a multi year bull run
While his gold focused investment philosophy remains consistent the market has largely ignored his crypto calls as contrarian noise.
Ethereum’s Dominance Faces Challenges
Despite ETH’s role in smart contracts and DeFi Schiff says its dominance is waning. He points out the growing competition among Layer-1 chains and the increasing likelihood of altcoin spot ETFs which may diversify investor attention away from Ethereum.
But Schiff’s thesis hinges on the ETH/BTC ratio going lower. If Ethereum holds or outperforms the market will write this off as another miss. But if the ratio breaks lower Schiff will be right—at least relatively.
Key Market Stats:
- ETH Price: $3,677
- BTC Price: $118,000+* 0.031
- 0.030 to 0.085
Key Market Stats:
- ETH Price: $3,677
- BTC Price: $118,000+
- ETH/BTC Ratio: 0.031
- 5-Year Ratio Range: 0.030 to 0.085
For now, Ethereum’s path remains uncertain, but Schiff’s bearish call has once again stirred the debate between fundamentals and charts in the crypto world.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save