I wrote an article on Steemit in the summer of 2017 advancing the thesis that the collapse of the US stock market bubble would portend a perfect storm, in which gold, silver, and cryptocurrencies would see fantastic gains.
As of this past week, the first part of this thesis is falling into place: the DJIA has lost close to 3000 points, with a one day loss of 1200 points on Monday Feb. 5 2018. This is one of the greatest losses in recent memory.
At this juncture, silver is has been in the doldrums for several years, with many mining stocks a third to a quarter of their 2010-2012 prices. Cryptocurrency has just come off of a major correction from the beginning of 2018. Gold has also been relatively unimpressive in the last several years after hitting highs close to $2000 per ounce.
With the current volatility in the stock markets and the looming threat of a continued correction/recession on the horizon, big money - both risky money and conservative, are going to be looking for places to go. Where do you think this is? Where are the bargains?
Yes indeed - the risk seeking money goes into crypto at bargain prices, and the conservative money goes in to gold and silver at bargain prices.
This is my forecast... Lets see what happens...