Bloodbath in Crypto, Boom in Precious Metals
Hello all friends,
Welcome to my blog. I am good and hope you all are also fine and enjoying the life.
It's a bad day for Cryptocurrency lovers. If we look at the market then their is blood bath everywhere. Look atvany Cryptocurrency - Bitcoin, Ethereum, Hive or any other alt coin they all in trading in red. The last week was good as the market shown the positive move and most of the token were in green, but in last 24 hours all upward spikes are downward and looks like completing the sin wave. The uptober is falling and wiping out the wealth of investors. The market is testing the patience of every one invested in crypto. On one side it looks the bear are taking over the market and other side it looks a buying opportunity. The crypto market is not small it's more then 3.9 trillion usd. In the past 25l4 hours it's down by almost 10%.
On the other side the Gold is shining more and more in past months. The silver is shining even more. If we compare the one year returns then the Silver has performed very well, followed by the Gold. It's very clear when the Gold is going out of reach the people are more interested in Silver, thats the reason it's ahead of others now. In our local market the pure silver is available in premium price. People are asking for more then 150 USD per Kg more then the actual price of Silver. The big factor of crypto crash is the global sentiments. The over tarrif by the USA has created the chaos, the market shown the fall after the announcement of imposing the 100% extra tarrif in important of Chinese items in USA. It is over and above the 40% tarrif they already have. This trade war where take us all God knows. Their is no direct link of share market with the crypto market but still the over all sentiment paly a important role and that's the reason the effect is shown in crypto market also.
What are your view let us know in comment section.
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This article is an excellent example of the mess that the crypto world is in today, Wow @guurry123! The manner in which you talked about the bloodbath in the market is really something that gives a clear picture of the unpredictability of crypto. It is only colossal that in only 24 hours, there was a 10 percent decline in a market that is worth 3.9 trillion dollars; it makes every investor to be patient and to be emotionally charged. I almost could have felt that fear and opportunity tension you were talking.
The most remarkable part to me was your balance in the discussion since you showed that even as crypto bleeds, precious metals such as gold and silver are booming. It is an excellent point that when the digital stuff collapses, people just run to the real stores of value.
Well, this is actually a great lesson to be learned in this post by honestly guurry123, that in moments of uncertainty, it is imperative to be diversified. Markets can go up and down, but a prudent investor will always learn how to strike the balance between risk and safety.
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