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POSTED ON November 26, 2018  - POSTED IN Key Gold Headlines

Bitcoin dropped below $4,000 as a massive selloff in the cryptocurrency market continued over the Thanksgiving weekend.

The price of a bitcoin fell as low as $3,604 during the sell-off. It has lost some 80% of its value from highs reached late last year when the price of bitcoin eclipsed $20,000. Bitcoin has fallen 40% in just two weeks of November. It was the worst price drop since April 2013.

Other cryptocurrencies including ethereum and ripple have seen similar price drops.

POSTED ON November 20, 2018  - POSTED IN Key Gold Headlines

Yesterday was another bad Monday on Wall Street. The Dow Jones dropped nearly 400 points and the NASDAQ fell deeper into “correction territory,” dropping another 3%. All five “FAANG” stocks closed in bear territory. These are the tech stocks that have propelled the long bull market. The NASDAQ is down 12.5% this quarter.

Apple’s announcement that it plans to cut production weighed heavily on the markets, along with another sign of trouble in the housing market — a big drop in homebuilder sentiment.

Peter said homebuilder sentiment is the first sign that the confidence bubble has popped.

POSTED ON October 12, 2018  - POSTED IN Videos

Could we be heading toward $5,000 gold?

Last week, there was a big sell-off in the bond market. Yields on the 10-year Treasury soared 11 basis points in one day. Global stock markets sold off the following morning and US stock markets followed suit. This week, things really got really ugly on Wall Street. The Dow dropped over 1,300 points in two days. In a video for SchiffGold, Peter Schiff said stock market investors “finally took notice of the carnage that was going on in the bond market.”

On Thursday, the price of gold popped, rising nearly 3%. But despite all of the action this week, most people in the mainstream remain complacent. The narrative is that this is a normal bull market correction. Peter said nothing could be further from the truth.

The economy is even a bigger bubble than the stock market.”

POSTED ON August 1, 2018  - POSTED IN Key Gold Headlines

Will bitcoin someday replace gold as the preeminent store of value?

One economics professor said it won’t because it will become more and more vulnerable to attack as its value increases.

University of Chicago economics professor Eric Budish lays out  his case in a National Bureau of Economic Research paper titled “The Economic Limits of Bitcoin and the Blockchain”

POSTED ON July 20, 2018  - POSTED IN Key Gold Headlines

Bitcoin and the blockchain are joined at the hip – so much so that a lot of people don’t distinguish between the two. Cryptocurrency and blockchain have almost become synonymous. But in fact, they are two different things, and it’s important to understand the distinction.

The blockchain is a technology. Cryptocurrency is a medium of exchange or a store of value that operates on that technology. You can have a blockchain without cryptocurrency, but you can’t have cryptocurrency without a blockchain. In fact, there are a lot of other possible uses for the blockchain beyond serving as a platform for bitcoin.

POSTED ON July 5, 2018  - POSTED IN Key Gold Headlines

It’s no secret that Bitcoin has tumbled since its meteoric rise late last year. After nearly touching the $20,000 mark, the cryptocurrency is trading at around $6,600 today. Other cryptocurrencies such as Litecoin, Ripple and Ethereum have also all shed big chunks of their value. But at least these cryptocurrencies are still alive and kicking. Hundreds have simply died.

Deadcoins.com lists over 800 cryptocurrencies that no longer exist or have a value of 1 cent or less.

POSTED ON June 26, 2018  - POSTED IN Key Gold Headlines

Remember when Bitcoin was knocking on $20,000? Today it’s it’s in a freefall, trading in the $6,000 range.

Crypto markets tumbled again last week after Japan’s financial regulator ordered several cryptocurrency exchanges to beef up anti-money laundering practices. The move prompted the country’s largest crypto exchange to suspend creation of new accounts. Bitcoin fell nearly 9%.

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