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Bitcoin once again clipped $30,000 yesterday afternoon. Bitcoin started the year at a low of $16,540 and at time of writing, sits at $29,848, That's quite an impressive gain and if it goes up just another $3,000 or so, then it will have doubled in dollar price for the year. So, if you bought in at the beginning of the year, congrats to you! With all the geopolitical tensions that have risen over the last few weeks, I suspect Bitcoin will continue to do well.
Having a look at gold, it started the year at about $1840 and eventually climbed to above $2,040 in April. Through the summer months, gold was whipsawed down to a low of about $1,820 until the Hamas incursion into Israel, sparking major geopolitical tensions. In the few weeks since, gold has risen more than $160 per ounce and is nearing the $2,000 mark again. I read somewhere that the Australian dollar hit a record high against gold (again) just in the last few days. I'm sure it's happening with many currencies (See: Japanese Yen hits record low against gold).
In the latest interview by Eric King with Michael Oliver, Oliver has put the word out that a $600 price jump in gold may be seen within a matter of months.
Other technical charts on KingWorldNews.com show that gold is at or near all time highs against all currencies and a parabolic move of $10,000 to $15,000 may eventually materialize. The chart of quarterly results going back 50 years suggests a strong possibility of this happening over the next few years. With insane mountains of debt piling up, even a high school drop out can figure out that gold will do well in such an environment.
Silver started the year around $24.25. While it hit $26 in April, like gold the slide downward has been steady and like gold, a low was seen right before the Hamas attack on Israel.
After hitting a low just above $21, silver has risen to above $23 as of Friday's close. While we've seen a nice increase since hitting its October low, it is still below this year's starting price. What's stopping silver at this point? Both gold and Bitcoin have shown to be resilient safe haven assets but both have become very expensive for the average person. With the price of silver remaining at crazy lows and major silver deficit already in progress, a rush to silver would be nothing short of explosive. According to economies.com, silver just breached resistance levels two days ago. Their trend for the day... bullish!
Yet, why does silver continue to struggle? All the technicals point to higher prices. Is it manipulation? Who knows but at these crazy low prices for silver, it points to being a good buy.
Think of metals and crypto not just as investments but also as insurance. Who knows what's ahead of us. Take care of yourselves and your families. Prepare. Stock up. Be ready.
Peace and love to everyone!
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Previous Posts:
Bitcoin flirts with $30K...again!
How quitting potato chips helped with weight loss.
Are we witnessing the 'Event That Will Change The World'?
Gold skyrockets back above $1,900.
The tragedy unfolding in the Middle East.
U.S. national debt surpasses $33 Trillion.
Central bank gold buying spree not slowing down.
Oil prices in gold remarkably stable for last 70+ years.
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