We’re back for another day at the rodeo. Precious metals and mining stocks were the big winners yesterday with gold up 2% and the U.S. Dollar Index down and nearing recent lows. Congrats to you if you acted on our precious metals trades from the past couple of weeks. Since our gold recommendation on July 29th, spot gold price is up more than 5%. We recommended an investment in silver on August 12th. Since then, the spot price has stacked on a more than 15% gain.
As the dollar index sinks into oblivion investors are piling into precious metals. But that’s not the only place gaining favor as a way to bet against the dollar.
Where else are investors putting their money?
Cryptos of course Unlike world currencies – which are regulated by their governments – cryptocurrencies are immune to inflation.
If you’re new to cryptocurrency trading, take some time for due diligence – there is plenty of information out there on BTC and the hundreds of other crypto investment options. Cryptocurrencies tend toward volatility, so trading cryptos are not for the faint of heart. However, some trading platforms (like Coinbase) offer an option to invest weekly over time to take some of the edge off of that volatility – an option better suited for less active traders and those interested in a long term crypto investment.
We will go into greater detail on some of the other crypto options later, but for today we’re highlighting Bitcoin. BTC is a favorite among seasoned crypto traders and there’s a tidal wave of new interest from brand new traders. The number of news stories we’re seeing is skyrocketing. Social interest in Bitcoin is ramping on reddit and stocktwits message boards.
Bitcoin is making two and a half year highs, but it will need to stack on another 50% to exceed the all time high from December 2017. Could this be the second act for BTC?
