Afternoon everyone….
What an exciting ten days it’s been in the crypto and precious metals world. Bitcoin and most alts have been moving up rather rapidly.
So just how long will it last….
While I’m no where near smart enough to figure all that out. But I try to listen to the people that have a better knowledge and understanding of these specific areas.
Lets us start with Bitcoin. If you listen to the crypto pumpers Bitcoin is going to hit 80K by the end of the month. I don’t see that at all personally, and neither do the three analysts that I read and listen to.
They are all in similar opinion that there is tons of resistance at the 69-70K mark. Meaning it would take a huge push to break through that marker. They are also all in agreement that after the halving Bitcoin will have a 15-20% pullback in price.
Let’s see if they are right….
On the precious metals market. Gold is at an all time high currently. But the analysts are saying that it will continue to rise until massive resistance at $2,200. There are several countries that have been buying huge amounts of gold over the last two weeks spiking these prices. There have been over 1,200 tonnes of gold purchased by countries, and they are still buying.
Todays charts show it still going up…
Gold is obviously the main player, dragging silver with it.
It’s an interesting time….