I agree with Schiff in that the current stock market is due for huge correction.
While there may be a bubble in the stock market as well as crypto, I do feel that the crypto market can de-couple from the stock market, i.e. there can be a huge bull market for cryptos during a bear market for stocks.
If the US dollar and stock market goes on an extended down period, I believe it makes crpyto an even more attractive investment. The cash hand that is freed up from the selloff of other investments might just flood into bitcoin and other cryptos.
While I'm not sure on this theory, I do feel like CNBC and other media outlets are still talking about the price of bitcoin against the backdrop of this stock market collapse. Putting it into people's heads that they should FOMO in when BTC rises while other assets drop.