We spent much of the summer telling people to get into bitcoin for a number of reasons I’ll go over below… and I’ll expand on where I think it, gold & silver and the markets are going next and how they are all interrelated.
To begin, though, bitcoin has skyrocketed higher, up $55 today alone to $370 and up $132 in the last month.
Bitcoin is up 55% in just the last month and is the best performing asset class in the world during that time.
And we called it.
Did your financial advisor tell you to get into bitcoin? How about your older financial newsletter writer who is not even quite sure how email works yet? Or how about some Austrian economists (not all by any means) who are focused on gold and silver to the exclusion of all else. These individuals have forgotten what Murray Rothbard said: Anything can be “money” if people accept it.
And bitcoin is surely becoming money. People are willing to pay a lot for just one. Please internalize this. Things are changing fast and you need to change along with them. What is going on in bitcoin is just a part of the bigger picture. Here’s why.
BITCOIN IS THE CANARY IN THE COAL MINE
Over the years I’ve pointed out that when events, such as the Cyprus bank “bail-ins” occurred, how gold and silver should have risen dramatically… but didn’t. While during the same time period bitcoin tripled in price. And the reason I said that happened was because bitcoin is nowhere near of a controlled and manipulated market as gold and silver.
In that way, I see bitcoin as a canary in the coal mine. It had leveled off and stayed near $230-$250 nearly all year, which prompted me to give the “all clear” on it this summer for new investment and now it is literally skyrocketing.
I think this very well could be a presage to a major market event. By nearly every metric the markets are massively strained. The US markets had an excellent dead cat bounce since the crash in August but it could well be a set-up for a second, larger “event.”
By the end of this year,or even sooner, gold and silver could have have followed bitcoins’ lead higher – while fiat-based currency continue to degrade.
MONETARY, FINANCIAL AND ECONOMIC CHAOS AHEAD
Bitcoin is just one of many indicators that markets may yet again be close to the top and ready to correct – good and hard..
If you still haven’t gotten into or figured out bitcoin, we recommend again taking a look at this complete course at DollarVigilante.com/bitcoin to get up-to-speed as soon as possible on bitcoin. Hundreds of TDV readers and subscribers did over the summer and many are already very happy they did.
The gold and silver mining stocks are also showing life for the first time in years. Just recently, a junior miner recommended by TDV Senior Analyst, Ed Bugos, nearly doubled in less than two weeks from the end of September until the first week of October. It has pulled back since then but if gold & silver have breakouts this month we can expect additional significant gains (1,000%+ is not at all out of the question – subscribe to TDV Premium for specific recommendations from Ed Bugos). And we just told subscribers in our October Issue of TDV how they can get a bitcoin ATM and debit card to be able to use bitcoin to purchase anything you can buy with a credit card or turn it into fiat cash in an instant anywhere in the world.
Get informed and positioned now for what I expect to be a wild ride for the rest of the year and 2016 to be a bloodbath for those not positioned correctly.