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Bitcoin back to $50,000, commodities moving higher, and US Markets to all time highs

Cory댊
August 23, 2021

Ed Moya, Senior Market Analyst at OANDA joins us to focus on the bounce in cryptocurrencies over the past month, as price went from under $30,000 to now testing the $50,000 level. We discuss the types of investors that are in the sector their ability to hold through the constant high volatility. We also look to the commodities sector that across the board is bouncing to start the week.

Click here to visit the OANDA website and read over Ed’s daily note.

Discussion
27 Comments
    Aug 23, 2021 23:34 PM

    Gold should be going to $50,000 not Bitcoin. I mean, if anything should be $50,000 it should be gold. However, the world’s been turned completely upside down with everything. This proves without a shadow of a doubt we have a wimpy society. A mindless population still insisting on wearing a mask out in the middle of nowhere in the boondockies outdoors.

    Looking at all the inconceivable actions of society that are unable to use critical thinking skills we are very close to a monumental collapse of unthinkable proportions.

      Aug 23, 2021 23:42 PM

      Here’s what’s crafty and deceiving. They call Bitcoin a “”coin””. Like you can hold it or something in all the photos.

      You have no physical control over it at all. You don’t own anything without the internet and the power grid. You’re completely at the mercy of the system. It’s just so deceiving how they picture Bitcoin as a coin. The price is all based on if the internet’s up and running and the grid and there’s buyers willing to pay just on confidence alone. Kind of like a fable all on hearsay and confidence nothing backing the asset. -000- no one knows when this Ponzi scheme will end however like the old saying goes a fool and his money soon part. Anyway, I just thought it was interesting to throw that out there. We go from paper money and or even stocks to completely worthless digital nothing can’t even use it as roll wipe. Mindless worthless assets can you call them assets. A better term is just fake assets. The madness of crowds.

        Aug 24, 2021 24:14 AM

        I looked at one or two crypto trading sites a few years ago. One included U$D as one of the currencies one could exchange crypto. Looked like orders to trade crypto for $ could take three days to execute, during which time the exchange rate could be all over the place.

      Aug 24, 2021 24:09 AM

      Not just out in the boonies, but on local trips I’ve seen poeple driving open sports cars wearing a mask, also people riding bicycles.

      Critical thinking? Include cognitive ability and problem solving ability, Signs of which I’ve seen very little on social media. And, as astrophysicist Neil DeGrasse Tyson has said on at least two talk shows: “Americans are scientifically illiterate.” He said it like it was one of his pet peeves.

    Aug 23, 2021 23:30 PM

    I like the way the pms are adding after the close instead of drifting downward. Also, if I owned bitcoin, I’d be very concerned about the mammoth gap created in the last week of August. It will get filled on the way to 20,000 or so. May look at Grayscale when that happens………… JMO

      Aug 23, 2021 23:32 PM

      Sorry, That gap is on the Grayscale chart.

    Aug 23, 2021 23:16 PM

    My pitchfork provided the high for XOP in June and the low (so far) last week…
    https://stockcharts.com/h-sc/ui?s=XOP&p=W&yr=5&mn=6&dy=0&id=p96077718204&a=833191223

    Aug 23, 2021 23:59 PM

    UUP hit strong resistance last week when it ran into its anchored VWAP (volume-weighted average price) based on its 2018 low.
    https://schrts.co/WTgMJeYF

    Aug 23, 2021 23:02 PM

    Including after hours trading, SILJ finished up 7.77%.
    https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=3&dy=0&id=p33619494467&a=968712905

      Aug 23, 2021 23:29 PM

      +777 Cosmic!

    Aug 23, 2021 23:08 PM

    Gold Investors Should Focus on the Big Picture says Analyst Brien Lundin

    Mining Stock Education – August 17, 2021

    Brien Lundin is the editor of the Gold Newsletter and CEO of the New Orleans Investment Conference. In this episode, Brien reminds gold investors to focus on the big picture macro argument for gold and not to be emotionally swayed by the near-term price fluctuations. He also discusses his approach to investing in the junior gold sector. Brien addresses why he has not invested in crypto currencies thus far. Finally, he concludes by sharing about the upcoming New Orleans Investment Conference (Oct 19-22) and why you will want to attend.

    0:00 Introduction
    0:58 Dealing with ups and downs as gold investor
    5:31 Upcoming financing can be a catalyst for a junior
    6:35 ASX miners with large share counts
    8:05 Percentage of your portfolio in producers now?
    9:28 Gold price and interest rates
    13:41 Crypto currencies
    16:41 New Orleans Investment Conference 2021

    https://youtu.be/hD94r68J1nY

    Aug 24, 2021 24:55 AM

    Good article on SILVER…………Silver: The Resurrection Begins Now
    http://www.321gold.com/editorials/thomson_s/thomson_s_082421.html
    Silver has never regained the lustre it had in the 1970s, when Main Street America lined up to buy the “working man’s metal”. In 2011, gold was about double its $900 area 1980 high, while silver couldn’t exceed its $50 high. The good news is this:

    As the next phase of the destruction of the American fiat empire gets underway, I’m predicting a major silver market “resurrection”.

    The stock market declines in the 1970s brought Main Street into silver, and 2022 is almost certainly going to see something very similar start to occur!

      Aug 24, 2021 24:57 AM

      I’ve suggested that the US stock market will likely collapse in a kind of hybrid of the 1929 and 1966 bear markets, but not until 2022.

      The collapse is likely to be war and inflation oriented. That means that gold, silver, and miners could become institutional darlings, something that hasn’t occurred since the 1970s!

        Aug 24, 2021 24:58 AM

        NOTE ABOVE COMMENTS ARE FROM THE ARTICLE…..

          Ann
          Aug 24, 2021 24:10 AM

          Thanks Jerry.. great article..

            Aug 24, 2021 24:12 AM

            You are welcome…..Ann….

    Aug 24, 2021 24:13 AM

    Made money on Etrion (ETX) on a one time payout as they sold all their assets and I got the money this morning. Bought BBB, GG, JAG, KTN, IPT, and SCZ. Bought Constantine Metals (CEM) a couple days ago. To taper or not to taper is the question…

      Ann
      Aug 24, 2021 24:18 AM

      Awesome… Dan

    Aug 24, 2021 24:00 AM

    The high for SILJ today, so far, happened at an important fork support-turned-resistance…
    https://stockcharts.com/h-sc/ui?s=SILJ&p=W&yr=3&mn=11&dy=0&id=p96186432174&a=822791467

    Aug 24, 2021 24:08 AM

    Getting her done…..With the help of Matthew pitchfork analysis…10 minute NUGT…Both the .382 and the .618 fib retracements are at the pitchfork supports…now which level is it, if either?..lmao…sure is a low volume retracement….

    https://tos.mx/600D2g5

    Aug 24, 2021 24:22 AM

    After GDX clears the 32.65 area, it will be on its way to 34.70…
    https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=1&dy=0&id=p50438142129&a=956047552

      Aug 24, 2021 24:28 PM

      yes, i agree w that Matthew….I believe overall we are in the danger zone ….danger as in no volume in any etf’s we all follow…that does not mean miners cannot advance…i am just trying to say if/when a downdraft occurs in major equity indexes the miners will take it in the chops..however, now through october can be a seasonally strong period in miners, typically…..i know you have a differing view, to a degree, i think?…off the weekly chart my initial target is 34.46 the low of a bullish TAS profile…… i agree w 32.65 and it is a day psar point…….then daily 38.86 above with TD9 count down as resistance….bonds are down w rates up….no doubt vigilantes trying their best…..glta…because trading can be real hard…lmao

        Aug 24, 2021 24:13 PM

        I’m waiting for volume to appear in the “risky” silver miners but GDX and GDXJ both look good to me since their volumes for yesterday’s big gains were about double the average and bullishly half the average for today’s “nothingness”/consolidation. In other words, yesterday’s volume was 4 times that of today’s volume for both of those ETFs. That’s great and the reverse would have been horrible.
        I bet the silver ETFs will confirm GDX/GDXJ very soon. My guess is tomorrow.
        Just for fun, I predict that the coming intermediate advance will top next year, not October.