Watching the silver MARKETS very carefully now. Depending on HOW the trend develops, BTC's short to medium term trajectory will play out.
$Bitcoin (BTC.CC)$ For the sake of maximum number of people, I hope and PRAY that silver prices (yes, there are many different prices depending on the LOCATION of the market AND the TYPE of it - be it physical or paper) move UP in orderly fashion like to it's big brother Gold.
However, there's much better than average chance it won't!
More likely Silver's move upward will be violtile and over and over exaggerated!
When that happens, it WILL likely push the entire financial system AND the banking system that's running behind under tremendous amount of stress which can create cascading success of credit destruction which results in asset class price deflations!
Nothing except the US Dollar and maybe a very short term Treasury will be immune from this massive downdraft!
When the entire banking system is IN credit destruction, people will end up selling what they CAN, not what they WANT at the market to raise liquidity and bolster their balance sheet!
I'm not saying BTC will see 50k USD before going to 150k USD, but it COULD!
This of course doesn't detract anything from BTC's long term projection of more than 5 years out.
What happened during 2008 GFC can play out again if Silver market fails to relieve upward price pressure in orderly fashion!
We shall see soon enough!
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30 plus years experience in investment but a latecomer to BTC since 2022. No sweat, it's the same human psychology!
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CJem OP : So far, silver markets are behaving "normally" but at ANY moment, they can "crack"! You will know it when the spread between the physical bullion prices and the exchange quoted paper prices stop resembling one another!
When that happens, watch OUT for cascading succession of failed margin calls, forced liquidations followed by banks collapses!
The SAME movie we have seen before!
Sadly, BTC will NOT be immune from this onslaught of mindless, fear driven SELLING!
CJem OP : Paradoxically, for the LONG TERM DCAers like yours truly, this short term "sale" can be the best opportunity to gain more BTC at lower cost basis.
I won't lie.
For MOST BTC HOLDERS, it will be quite painful for sure.
Best of success to everyone!
Annoynimous : go to bed.