Pausing on Crypto-currencies, going in on Silver.
I will not be liquidating any of my Crypto holdings but I will refrain from adding to them in favor of buying Silver instead. The stock market is poised for another "black swan" event at any moment. I fear this will not be good news for Bitcoin with its low trading volume and most of that low volume still coming from China... and now some options to get in or OUT of Bitcoin on NASDAQ like GBTC . A clear inverse peg to the YUAN and a peg to the Dollar/US Stock Market has been established. I see the YUAN making an unexpected and temporary recovery against USD. All things are relative and the YUAN may be out running the competition not the bear as precious metals outperform everything during a Stock crash.
Cool, I did and am doing the opposite... after a whole bunch of Silver, I went into Gold for compact storage,then transitioned into Cryptos.
If the speculation of China announcing adoption of Bitcoin as part of their assets, that would be a whole bunch of folks getting in.
I love silver, it is my first choice and always has been,but dang it can get cumbersome.
If China makes an announcement like that I think I will be set just from my SteemPower lol
I believe you are right! And hold on it is a New Year...maybe, just maybe....
Are you currently trading btw :)
I don't trade, I either hold or fold.... and just bought my first ETH, just for fun.
Ether and the Akashic records :D
I've read something about that last year, as far as i remember they were starting to develop a blockchain crypto and full government controlled , but it wil take them some time I hope :D sure would hate to say good bye to money and start getting hacked by Chinese data miners :D
it's going on for years :D
And probably you can't go wrong with silver , but I'm not a trader and never have been.
Best of luck to you :) Traders :) !
maybe check meh post Banner saga - Freelance Contests
It is amazing how similar our strategies have been.
Right now, I am diversifying a bit with cryptos too. I have a little more Bitcoin to accumulate then I am done. I do enjoy SteemIt and will hang onto my STEEM Power until I need it.
After I feel I have enough BTC I plan to stack a bit more gold and silver. Then see what happens.
Great post and great comments!
Steem on,
Mike
"The market is almost always somewhat in agreement even if it agrees it doesn't know what to think" - Someone
Good luck going forward... hey I just heard (and I put little stock in these types of audio alerts), that the reset is supposed to occur coincident with the Chinese New Year. Fingers crossed, toes, eyes and cramping now.
I thought that was yesterday
You know how timing goes, just hoping for now really.
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Thank you screenname
If you don't mind my asking, when you speak of buying "silver," that's SLV you're referring to?