tldr; Gold and silver, often considered stable safe-haven assets, experienced significant volatility, with gold dropping 16% and silver plummeting 40% in a single day. This unexpected crash erased billions from their market caps, surpassing the entire cryptocurrency market’s value. The reasons for the drop are debated, including profit-taking and potential impacts from a new Fed Chair nominee. The crypto community highlighted this volatility, contrasting it with Bitcoin’s resilience despite its own fluctuations.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
DollarLate_DayShort on
China is laughing all the way to the vaults
Cautious-Lecture-858 on
Yeah, gold dropping 9% in a single day is totally comparable to bitcoin’s 5 80% crashes since its conception.
fan_of_hakiksexydays on
You know why it dumped?
Because all the people from the daily got really bullish on silver and started to buy silver for the past week, and too many people on r/cc started to advise people to rotate to silver.
Classic inverse r/cc, now even metals fall victim of it.
absurdamerica on
That’s a whole lot of cope.
Ill_Mousse_4240 on
Yeah but nothing’s final yet until we hear from the Two Pillars of Wisdom: Peter Schiff and Jim Cramer
Willing_Coach_8283 on
Silver has tripled since 2024. Bitcoin gain 30% in the same period. Enjoy hodling.
Oh and by the way, BTC in a free fall towards 60k at the very least. That’ll be 2021 level
No_Giraffe_4647 on
Indeed everything went down so crypto investors should not panic
typoerrpr on
wow, 6.7 trillion erased in a day.
DOG-ZILLA on
Gold is up 57% on the year and BTC is down 30% on the year, I mean…come on guys. What are we doing here? Let’s be real.
Patrick_Atsushi on
The unstable people escape from instability, and ironically this act creates instability wherever they go.
Romanizer on
We were told that Bitcoin can’t be a store of value because it may move >10% in a day. What does this say about gold and silver?
Beatless7 on
I made 60% ($5000) on my gold at its peak. So now I’m at 50%. So what? Im still heavily into profit and not selling. One tweet can change everyrhing.
5alzamt on
What did you expect? That the exponential price chart continues?
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tldr; Gold and silver, often considered stable safe-haven assets, experienced significant volatility, with gold dropping 16% and silver plummeting 40% in a single day. This unexpected crash erased billions from their market caps, surpassing the entire cryptocurrency market’s value. The reasons for the drop are debated, including profit-taking and potential impacts from a new Fed Chair nominee. The crypto community highlighted this volatility, contrasting it with Bitcoin’s resilience despite its own fluctuations.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
China is laughing all the way to the vaults
Yeah, gold dropping 9% in a single day is totally comparable to bitcoin’s 5 80% crashes since its conception.
You know why it dumped?
Because all the people from the daily got really bullish on silver and started to buy silver for the past week, and too many people on r/cc started to advise people to rotate to silver.
Classic inverse r/cc, now even metals fall victim of it.
That’s a whole lot of cope.
Yeah but nothing’s final yet until we hear from the Two Pillars of Wisdom: Peter Schiff and Jim Cramer
Silver has tripled since 2024. Bitcoin gain 30% in the same period. Enjoy hodling.
Oh and by the way, BTC in a free fall towards 60k at the very least. That’ll be 2021 level
Indeed everything went down so crypto investors should not panic
wow, 6.7 trillion erased in a day.
Gold is up 57% on the year and BTC is down 30% on the year, I mean…come on guys. What are we doing here? Let’s be real.
The unstable people escape from instability, and ironically this act creates instability wherever they go.
We were told that Bitcoin can’t be a store of value because it may move >10% in a day. What does this say about gold and silver?
I made 60% ($5000) on my gold at its peak. So now I’m at 50%. So what? Im still heavily into profit and not selling. One tweet can change everyrhing.
What did you expect? That the exponential price chart continues?