You [mention] in your blog [post about] stocks and real estate. I am interested in your opinions on gold, silver, and bitcoin for the short and long terms as investments.
Here was my response:
I refer to all three (gold, silver, bitcoin) from time to time, and specifically recommend gold and btc. I own both, but do not dabble in the other alt-coins too much, other than the well known ones, as I do not know many specifics about the crypto sector. Owning bitcoin provides me exposure to the sector without having to overly dwell on the crypto sphere.
I have always said that there is something unique about btc as its origins are shrouded in mystery. I believe it has a special purpose in the future and with all the derivative products trading against it (e.g. COMEX futures, and BITO ETF), this shows me it has official sponsorship. It has received massive publicity in the MSM over the years. That speaks volumes and provides us a clue about its future.
I am certainly not as bullish on btc right now as I was a couple months ago, but with an impending double top forming on the daily chart, we could see a big breakout run to the upside. Although, I normally sell away my trades on other assets at a double top, this is bitcoin, and btc more often than not breaks this rule. What I do find interesting is that when a new btc derivative product commences trading, btc usually sells off after a huge anticipatory runup.
Any breakout could help the alt-coins like bch, eth, ltc, etc., on a trade. BTC futures must take out the ATH 65520 if we are to see a serious shot at much higher prices (100,000). If it fails here, would could see it retrace to the 50-day sma (48725).
Gold & silver
Gold (Au) was always preferred by wealthier people over silver (Ag), as Au is specifically a monetary metal. Ag is an industrial metal and exhibits wild price swings. Large dollar amounts of Au are easier to hold than with Ag. Spreads are usually much smaller with Au than with Ag. I do like Ag, but I prefer Au over it.
I always say that I own 1 oz. US gold eagles, but recommend people to hold the 1 oz. version of whatever their country produces. So, Canadians should hold maple leafs.
I think the PTB want to keep Au in this range for now (close to the 50- and 100-week sma). I do see a large move on the horizon, but it could come in either direction. The 200-week sma is about 1550. The ATH is 2089. I accumulate as I get the available liquidity to buy. I stated in the past that btc was created to also keep Au from rising too much. They are partial substitutes.