Unexpected Connections All right, bitcoin is an alternative to fiat currencies, just like gold and silver are, but what about tech stocks? What could they have in common with the precious metals market? More than it seems at the first sight. In particular, values of mining stocks and tech stocks moved in a very specific way in the past, and since the current situation appears to be very similar to what we saw over two decades ago, it’s time to pay attention.
just clearly invalidated its breakout above the 2021 highs. This is a huge deal, as tech stocks were the most popular and leading ones during the current rally. AI will change the world! Bitcoin is the new dollar! And so on. The new paradigm. And yes, AI will change the world, but it’s overhyped at the moment in my view. It’s Dot-com bubble 2.0. Just because AI will change the world, it doesn’t mean that it will all happen now.
’s invalidation of the move above the previous highs is a huge deal, because it’s a clear technical sign that “this is it” – this is the top. This is important for us, precious metals investors and traders, because of the specific link between tech stocks and mining stocks. If this is the Dot-com bubble 2.0, then what happened in the 1.0 version is likely to apply this time a well – history rhymes, after all. The decline tech stocks took mining stocks with them.
fell decisively yesterday, proving that the breakout above the 2021 high is history, and confirming my bearish indications from the previous weeks. This is major sell signal not just for tech stocks, but for all other stock market indices, as the U.S. tech stocks were so important in leading the recent upswing. World stocks moved to their all-time high, which already worked as the ultimate resistance that stopped the rally, not just in stocks, but also in the miners .
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Fuente: Investingcom - 🏆 450. / 53 Leer más »