The cryptocurrency market experienced a significant downturn, losing over $150 billion in value within 24 hours. Bitcoin's price fell by 2.9%, settling at $112,057.96. This decline was attributed to global trade tensions and a substantial $712 million liquidation event. In the midst of this market turbulence, Peter McCormack criticized Peter Schiff's negative stance on Bitcoin. McCormack highlighted Bitcoin's impressive 25,280% growth since 2013, contrasting it with gold's 118% inflation-adjusted gain over the same period.