Economist Peter Schiff predicts significant losses for Bitcoin if the NASDAQ enters a bear market. He warns a potential 40% decline in the NASDAQ could see Bitcoin dropping to about 20,000 USD, emphasizing the correlation between the two markets.

While Bitcoin may struggle, Schiff notes that gold could rise considerably. An inverse correlation exists between the NASDAQ and gold, suggesting that if the NASDAQ falls, gold prices might surge, reflecting an alternate safe haven investment.