It is Friday evening and I am basically ready to eat, watch something on Netflix and go to sleep. It has been a long week and on top of it all I just did a weight lifting workout.
I am looking forward to tomorrow as after our daughter has an art lesson via Zoom we are getting picked up and we go downtown Seattle to see an exhibition at the Seattle Art museum followed up by a restaurant and visiting our favorite local chocolatier Frans chocolate. Then we will go back to our suburbs, the village as we call it.
As I am writing this Bitcoin is sitting at ninety thousand dollars and Etherium is down to almost three thousand. Other altcoins are really beaten up and all feel like excellent candidates for dollar cost averaging. My favorite coins such as ONDO, NEAR, AERO are all down seventy five to eighty five percent from the recent highs.
It all seems like bear market prices even with bitcoin at ninety thousand! But if Bitcoin heads down to seventy two thousand or lower all the coins are going to head even lower. The same applies to my two favorite Hive ecosystem coins SPS and Hive. While they are sitting at what seems like really low levels if Bitcoin goes lower so will Hive and probably SPS.
Despite that I think that while the next few weeks might still be sideways, we are getting close to a shift in the market. There is too much fear and silver just hit over sixty dollars before coming back down a little today.
And silver and gold might still have a few weeks to run, but it is starting to look like we are getting close to the end of the parabolic bull run in silver and gold.
At the end of the precious metals bull market in the past silver outperformed gold and we are seeing that happening right now. I think we will see a blow off top and a decent correction in silver and gold and money is going to rotate back into risk assets.
With Federal Reserve starting to boost liquidity in the markets and with coming rate cuts I think it is going to be a good year for crypto and equity markets. Economy might heat up in the new year as well along with real estate market. While cash is King during bear markets, US dollar is going to rapidly depreciate against most assets.
We ended up watching a brand new movie called My Secret Santa and it was actually a pretty good family movie. It is currently a number one movie on Netflix. It was a little cheesy and romantic, but also very funny and lead actors did a really good job.
Perfect movie to watch late Friday night and it is well timed before Christmas. I can't believe it is less than two weeks before Christmas!
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Thats sounds like a nice afternoon! We're going to watch a movie today, too, there's a special open Saturday event in my home town in Germany. Just for the kids...
Oh you are back to Germany for the holidays?
Yes, came over here for one month :-)
Was a bit confused about the pictures from Manhattan but you talking about Seattle. Then I realize it was an art museum. 😂
Pictures are from our trip to Manhattan earlier this year 😀 Except the dish, that is from one of our local Seattle area restaurants.