Over the last month or so, the so-called virtual or "crypto" currency market has imploded. The leading virtual currency, known as Bitcoin, fell to a low of $1,830 this morning after trading near $3,000 only one month ago, This 39% break compares to losses near 60% in other crytocurrencies (of which there are at least ten right now).
My strong hunch here is that the loss of confidence by speculators in this extremely volatile market will benefit gold, silver, and the entire precious metals investment arena. In fact, key weekly chart buy signals have now been triggered by my computer trading system in most gold and silver-related shares and ETFs.
Bottom line: A major rally in gold and silver prices is now underway. Precious metals mining shares are likely to participate and post big gains over the next several months!
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| Silver ETF (SLV) Weekly Chart with Computer-generated Buy & Sell Signlas |
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| Gold/Silver Mining Index (XAU) Weekly Chart with Computer-generated Buy & Sell Signals |
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