-- Published: Tuesday, 6 June 2017 | Print | Disqus
By Steve St. Angelo, SRSrocco Report
Well, it looks like the Wild West in Crypto-currency Land just got a lot more Wild. The Crypto-currency, CloakCoin, mentioned by Clif High during his interview with Greg Hunter on USAWatchDog shot up a stunning 300% in two days. Before Clif’s interview was published, CloakCoin was trading a for a little more than a buck… $1.029. However, today, its trading over $4… LOL.
Actually, I am not quite sure exactly when Greg published the interview (it shows June 3rd on youtube), but I would imagine most people started watching it early the next day on June 4th. During the interview, which focused on the Clif’s forecast that the Crypto-currencies would continue to experience a great deal of interest going forward, he mentioned two “Dark Horse” cryptos that he thought were good to keep an eye on. One of them was CloakCoin.
Several hours after I listened to the interview, I thought I would check out this CloakCoin and see how it was trading. On one of the main exchanges, it was ranked as 101st in the group. Bitcoin and Ethereum were in the first and second spot. However, later that day, I noticed that CloakCoin continue to move up the rank and was trading at 200% higher… LOL.
Yes.. it is the Wild West out there.
Now, I am not saying that Clif had anything to do with the movement in CloakCoin, but it just goes to show that when some of these more “unknown” crypto-currencies gain a little exposure, they can experience some serious movement in their price.
What was also interesting about Clif’s interview was that he said the price of Gold & Silver would likely take off by the end of 2017 and into 2018. He has stated that the crypto-currencies would experience huge PRICE MOVES first and then the precious metals as the financial and economic markets continue to disintegrate. We will see if his forecast is correct.
Of course, one can debate whether crypto-currencies are a GOOD or BAD Digital Asset to own or invest until the cows come home, but it seems highly likely that a great deal more funds will be moving into them in the future. However, this does not take away AT ALL from the BIG MOVES coming in Gold & Silver.
I will be writing a great deal more about the PRECIOUS METALS, MINING & ENERGY, but I will also be including information on the crypto-currencies as they will likely experience more exposure as the Fiat Monetary System and Broader Stock & Bond Markets crumble.
One more thing… the total crypto-currency market cap just surpassed $100 billion today. With $160 trillion in Stocks and Bonds currently, and with the $13.4 trillion in U.S. M2 money supply, there’s a large supply of of funds that could likely move into Gold, Silver & Cryptocurrencies as the global markets fall over the cliff.
We ain’t seen nothing yet…..
IMPORTANT NOTE: I am just reporting on these cryptos and not promoting them. So, please understand these low price and high volume cryptos will be very volatile. Again… I am just explaining what is going on… and I would imagine it will get a lot more INTERESTING & CRAZY as time goes by.
Check back for new articles and updates at the SRSrocco Report.
| Digg This Article
-- Published: Tuesday, 6 June 2017 | E-Mail | Print | Source: GoldSeek.com