by Jeff Berwick, The Dollar Vigilante:
If you read the Youtube comments, many people think I am crazy for suggesting that those who have held crypto for the last year, or longer, and who have gains of 2,000-600,000% might want to take some profits and invest in an unloved sector like precious metals and gold stocks.
This is very interesting, because for the last six years, whenever I would mention that people should invest in cryptocurrencies as well as precious metals, many Youtube commenters would jeer me as being crazy for investing in a Ponzi scheme or scam such as bitcoin.
In other words, we’ve seen a complete 180-degree turn in public sentiment.
Cryptocurrencies were hated until this year… and now they are deemed to be impervious to any sort of correction or crash.
And precious metals were loved until this year… and now are deemed to be dead assets that will never rise again.
You can understand how crazy group psychology is by reading the Youtube comments!
Just read the comments in my recent video with Collin Kettell of Palisade Global where I suggested taking a small amount of crypto profits and putting them into precious metals.
In our talk, Collin mentioned there was an initial air of bitterness that existed between commodity and crypto investors early on, especially because many hard asset investors missed out on some of the early gains in the cryptocurrency space.
And we touched upon the fact that because mining stocks and hard assets have been relatively flat or languishing to some degree since crypto has risen in popularity over the last year or so meaning that this could be a great buying opportunity to add to your positions or establish new ones.
Collin believes that for the next year or so it’s likely that cryptocurrencies will continue to take the limelight, but as the hype subsides, it’s quite likely that people will begin moving a lot of their earnings back into the most well-known safe havens; gold.
We also had a chance to cover Mexican Gold Corp’s new gold strike and the big gains that are possible, the uranium sector, as well as how the world’s biggest producers including Cameco are doing after Kazakhstan cut uranium production. And stocks which are likely to rise.
Yes, there are other things going on in the world besides cryptocurrencies! And you can hear about it all in our interview:
Read More @ TheDollarVigilante.com