00:00 Josh
Well, precious metals rallying here with gold and silver hitting new records as crypto is left in the dust here. with a look at these alternative assets is our very own Inez Ferre. Inez.
00:09 Inez Ferre
Yeah, Josh, as you just mentioned, precious metals absolutely on fire. I mean, you look at gold right now, it’s up more than 70% year to date. You you’re also looking at silver, that’s up 165% year to date, and platinum up 175%. And now compare that picture with the crypto uh scenario where a year-to-date chart of crypto shows you this. Bitcoin down 7% year to date, unable to recover from its around 30% drop from its all-time high in October. Ether down more than 12% year to date. So you now have metals investors that are basically saying it’s time for the crypto crowd to switch to the metals. It’s less volatile. There’s more liquidity when it comes to gold. You also have been having some prominent uh Bitcoin bulls that have been noting that Bitcoin has been trading like a high risk tech stock and not a neutral reserve asset recently. But I will say that you do have some uh strategist that are noting that after this big decline that we’ve seen with Bitcoin, you probably will be seeing a bounce in January. That’s because if Bitcoin goes towards its third month of losses, if December tends to is is a down month for Bitcoin, well then that has only happened 15 times. and uh that generally sets up the token for a bounce in January. That’s according to Sean Farrell from Fundstrat. So he is optimistic that we may see a near-term bounce in January and also as investors sort of allocate their uh portfolios, allocate some crypto in their portfolio long-term. We have seen though Wall Street that has uh been pairing back their estimates, their price targets for the end of 2026. Uh Sean Farrell, uh Fundstrat has 115,000 by the end of next year. and then you’ve got Standard Chartered that has a 150,000 price target for Bitcoin by the end of 2026. uh Josh.
03:00 Josh
All right, as thank you. I appreciate it.
03:03 Inez Ferre
Thank you.