Is it a good time to buy Bitcoin, Gold, Silver? Maybe, yes.
After a few days of choppy markets, it looks like the DXY has broken a major uptrend, S&P 500 temporarily made all time highs and again broke below, and now DXY looks like it is doing a bearish retest.
Although the correlation between DXY with the S&P 500, Gold and Silver is not that prominent, and sometimes did give false positives in the past, I'd still like to take the risk considering the fact that the dollar (and other fiat currencies) just keep on weakening over time, which is of course my primary reason to buy gold/silver/cryptocurrencies.
Diversifying into more higher risk:reward assets like Bitcoin may give superb rewards in future.
A month back Bitcoin broke out of a two year downtrend as well, so this is the main reason I'll be buying that.
N.B. I'm not a financial advisor, so please use your own risk management techniques to get exposure in the market and do your own research before investing.
Although the correlation between DXY with the S&P 500, Gold and Silver is not that prominent, and sometimes did give false positives in the past, I'd still like to take the risk considering the fact that the dollar (and other fiat currencies) just keep on weakening over time, which is of course my primary reason to buy gold/silver/cryptocurrencies.
Diversifying into more higher risk:reward assets like Bitcoin may give superb rewards in future.
A month back Bitcoin broke out of a two year downtrend as well, so this is the main reason I'll be buying that.
N.B. I'm not a financial advisor, so please use your own risk management techniques to get exposure in the market and do your own research before investing.