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Peter Schiff, President of Euro Pacific Capital, who has repeatedly criticized Bitcoin, made a new statement regarding the first cryptocurrency. He warned that Bitcoin is on the verge of a deep recession. The expert began with stock market analytics. He reported that on July 24, 2024, the S&P 500 and NASDAQ indices closed at multi-week lows amid falling Tesla and Alphabet shares. Schiff noted the growth of the Japanese yen and Swiss franc. As a rule, these are currencies with a stable exchange rate, into which assets are transferred during economic and political instability. Recall that in June 2024, US senators called on Fed Chairman Jerome Powell to lower the interest rate. Lawmakers believe that tightening the regulator's policy threatens a recession. Peter Schiff then moved on to gold and silver prices, which also fell by about 2% over the past 24 hours. According to the expert, the precious metals market is also preparing for a "hard landing".