Why Toppling Silver and Gold Prices Could Be Especially Bad for Bitcoin

gold and silver chart 980x450

In March 2020, the stock market dragged cryptocurrencies down to their Black Thursday bottom. Since then, however, soaring gold and silver prices have helped restore interest in Bitcoin and altcoins. These hard, digitally scarce assets are expected to perform similarly to precious metals due to similar supply attributes. Still, it also could cause a disastrous crash in crypto as a result. Silver and Gold Rally Ready For Pullback And Dollar Stages Overdue Recovery The dollar has been in steady decline, with top financial market analysts from the likes of Goldman Sachs and more calling for its eventual demise. The once almighty dollar is at risk of losing its global reserve currency status, and it has caused a domino effect across the global finance market. Stocks have stayed relatively stagnant, waiting for news of the coming stimulus before reacting. Ahead of the United States government finalizing what the next round of…

Read the original article here