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End of July: Crypto vs Precious Metals & Stocks

Today I wanted to discuss how the markets have been behaving in relation to each other, particularly in how crypto is stomping all over the “competition” aka FIAT-oriented services such as stocks, and how precious metals are responding.

Bitcoin is currently soaring at $11,327 after a drop from an even bigger rise this morning at $11,460 USD!

Ethereum (ETH) has been kicking ass with a bull-run of its own, no doubt due to the upcoming implementation of Ethereum 2.0.  ETH holds a current value of $344 USD which is up almost 4% in the last 24 hours alone.  In the last month, Ethereum has made a 51% gain in value, jumping from $240 USD to $348 USD.  This is extremely impressive and I’ve already seen a return on a small ETH investment.
ETH 731

Basic Attention Token (BAT) is holding its ground at $0.25c USD.  Not much movement in the negative beyond the typical loss seen from most altcoins, although they tend to balance out within a few days via correlation.

Nothing over 5%, although the token lost its streak prior to this BTC and ETH bull-run.  It’s sad to see the timing of these runs negatively influence BAT, but it’s nothing too substantial.  I am not concerned about BAT’s future.

Stellar Lumens (XLM) is holding at $0.0966c USD – which really hasn’t moved much during this Bitcoin spike, and I have been using it more as it saves on time and fees with decentralized exchanges.  I’m patiently waiting for Nano support on Coinbase as that is the only currency I can think of I would love more than any other on all counts.  I intend to email Coinbase and ask them about implementing Nano.

Tezos (XTZ) is down $18.15% this month.  I believe XTZ was hit particularly hard due to many yield-return oriented tokens being unveiled with a higher return on investment (ROI) percentage, followed by the latest Bitcoin bull-run.  This could be a good time to buy Tezos or this may be the beginning of the end for the token as there are far better staking opportunities now.
Tezos 731

Regardless, I plan on moving most of my Tezos into Atomic Wallet Coin (AWC) after my Atomic Wallet Membership approval on 08/02/2020 – a few days from now.  AWC has far better prospects at this moment in time.  It spiked last week but is holding fairly well around $1.50 USD.  BNB is up a bit in spite of that, though.

ZCash (ZEC) is up and correlating closely with Bitcoin.  It’s doing so well it’s a seller-dominant market at the moment, and nearly breaking even with the highest value it has had in over a year!

The days of laying around in a “boring but volatile” market seem to be over as the bull race is on and breaking $10,000 is now a thing of the past.  I hope it stays that way, but if it doesn’t – it’s time to reinvest!

Altcoins remain strong, though some have taken a hit in light of many people moving their assets to Bitcoin and reacting to the fears of a suddenly active market via cashouts or exchanges.  Most tokens haven’t been affected worse than 5%.

If I am ever deeply concerned, I move my money into DAI stable-coin which now earns 2% APY on Coinbase.  A quick conversion at a low fee to XLM ran through a DEX exchange (I use Binance DEX for BNB and ChangeNOW for most-everything else) and it’s directly back to where it needs to be.  The US dollar is heavily inflated so keeping your assets in a FIAT-stable coin temporarily isn’t a terrible idea in times like that.

I am in a full token collecting mode, stacking as many different assets as possible – but my loyalties remain to Bitcoin, BAT, XTZ, AWC, ETH, and the lesser-known Nano.  I plan on getting as much ETH and AWC as possible by converting a good portion of my earnings via ChangeNOW’s DEX.  I am pushing for more ETH and AWC support and moving away from XTZ slowly.

Stocks are down, and they are probably going to stay that way with minor blurps in the positive as they’ve had since COVID began.  If you intend to hold shares, now may be a good time to buy stocks – I recommend buying ones that offer services people are always going to need.  The only stocks that have held their worth through COVID did so by dumping their personal funds into shares, such as Tesla.

Other stocks stay in the slight positive due to the nature of COVID keeping people at home, and people putting money into stocks that are aiming to help with COVID relief, although most are in the negative or barely breaking even with market prices way down from when COVID occurred.  3M is a good example.

Precious Metals:
Gold and silver are both up – particularly gold which has a current value of $1,972 per 1 Imperial/US ounce.  This is up substantially from the end of June and the beginning of July where the price went from $1,685 to $1,775.  Many compare Bitcoin to digital gold and Bitcoin hasn’t lived that analogy down.

Silver is up a fair amount as well, currently at $22.89 per ounce which has netted me about $7 per bar in profit since the time of my purchase last year before COVID.

Cryptocurrency is doing great.  Precious metals are as well.  Stocks are swirling down the toilet and FIAT remains grossly inflated.

What are your thoughts on the new market movements?  Let me know in the comments.

Stay smart & stay safe.

-Thomas Wolf

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