Will Crptos Follow Stocks Or Precious Metals ?
The stock market is tanking this morning. I also notice that Gold and Silver are on the rise. Bitcoin is in the green but most of the others are in the red including Steem. Now that the tarrifs have been emposed upon steel I think that all metals will go up in price.
I am curious to see which one of the cryptos does better when the stock market is taking dive. Right now bitcoin seem to be holding its own but I think ethereum will soon become number 1.
My dad has been saying that silver is really going to exploded in the near future and he has been sending me a few of his bars every so often. One of my other friends has been buying one bar every Friday for a year. You can get one bar for around 20 bucks right now but that wont last for long.
I really hope some of the other crypto coins go up in price this year. Do you think cryptos follow the stock market or do you think they follow precious metals?
Thank you for a metal statistuque. As you now alwysba gold in the top.
I honestly think that its blazing its own path. Right now, I think it will closer match metals as the market is expanding and getting its legs...later it will be somewhat closer to stocks. The fun thing about crypto is that there are stores of value (like metals), utility and security tokens (kinda like stocks), and transaction coins (like FIAT)...all being traded in the same places! Something like this has never been seen before.
I think theoretically crypto is more similar to metals in comparison to stocks, but it's kind of a hybrid of the two.