Crypto down! Silver up?
We think a growing forward trend is a combination of pressure on crypto currencies, particularly Bitcoin (Ethereum has software applications that work and becoming more popular so isn’t just a one trick pony like Bitcoin) with some of that flowing into precious metals, particularly silver.
Why? If in fact there has been crypto currency substitution for precious metals to some non quantifiable and therefore non verifiable extent, then that certainly allows for reverse substitution on a crypto drawdown in a similar scale. There have been three 70% crashes in crypto. As Aristotle said in his Metaphysics, “If it happened before, it can happen again.”
So surely if something has happened three times, it can happen a fourth time. If crypto represents a flight from fiat currency, then a move out of crypto should lead into the ultimate non fiat currency: gold (and gold’s playmate, silver).
Remember! Gold and silver are not substitutes for fiat currencies. Fiat currencies are substitutes for gold and silver. As readers know, we like precious metals and we like copper. Palladium made a new high the other day. Between deficit spending, upcoming yield curve control, opening up of the economy, and the U.S. infrastructure spend, inflation havens should work, to gold and silver’s benefit.
Furthermore, because of electric vehicle and solar panel production growth, silver has additional demand drivers that should push it to new recovery highs. So, now we see an additional reason to play long precious metals: a potential kick in the pants for Bitcoin.
SLV Silver is breaking out to the upside. SLV broke above the 50 day moving average on 163% average volume on Wednesday…
After peaking in early June (shortly before gold peak), the ratio of Newmont to gold is breaking out to the upside. Gold miner out-performance is a sign of a healthy precious metal bull market.
Source: ZeroHedge BanksterCrime
Here’s the Bitcoin and Ethereum link that is likely to offer higher returns on these alts
When was the last time Altcoin Market Cap turned its old 2014 highs into support? With ETH’s price rally above $3200 level, altcoins have started rallying again.…Read More
Luongo: Cryptos “Are The Right Tool To Call Bull$hit On Central Banks”
Bitcoin: It’s Not A “Real” Truck I just bought a new truck. My 2013 Ford Focus (with requisite 5 speed Millennial Anti-Theft Device) couldn’t keep…Read More
Tron, Chainlink, VeChain Price Analysis: 30 April
Source: Pixabay The altcoin market has been dealing with a sudden shift in volatility throughout the month of April. With Bitcoin bringing in bearish drops and Ethereum…Read More
Cryptocurrencies Are the Next Frontier for the Surveillance State
Countries are launching digital currencies to rival Bitcoin—and opening up new ways to snoop on their citizens in the process. ILLUSTRATION BY DANIEL ZENDER At…Read More
Dollar Drop, Crypto Pop Reflects “Crazy People” Running The System
The last few months have seen the dollar dive and crypto thrive… Source: Bloomberg And the last few days have been no different… Source: Bloomberg…Read More
JP Morgan Launches Bitcoin Fund For Rich Clients After Years Of Bashing Crypto
Ever since JP Morgan CEO Jamie Dimon first denounced bitcoin waaaaay back during the heady crypto-rally of 2017 (shortly before we revealed that JP Morgan’s asset-management…Read More
How to Sell Bitcoin?
How to sell Bitcoin? If you have bought or received Bitcoin in other ways, you’re probably wondering how to change it to cash. Good news!…Read More
Tron, Synthetix, STEEM, FTX Token Price Analysis
By Saif Naqvi As market leaders Bitcoin and Ethereum moved deeper into the bearish zone, other altcoins registered losses and scrambled to find support at various levels. Tron hovered…Read More
I Bought The Bitcoin Dip”…Now What?
What is Cryptocurrency? It is a form of digital money, in short. For the long answer, keep reading our “What is cryptocurrency” guide. More and…Read More
Great Collapse (GC) of 2019, doing so
with little or no advance warning… Banks will be the major contributor to the collapse of the United States economy, banks have become EVIL,SRH. Usury…Read More
Leave a Comment