Bitcoin has seen a recent slide in price over the last couple days continuing
its downtrend trend while sellers try and hold cash as the main commodity; but as we all know when the price starts getting lower and lower, then people try and increase their buy-in to reduce risk. We have all seen this before, and should not be surprised if that happens closer to the end of the year when people start feeling the increased pressure across other areas of the market, especially with the downward sag of Oil and what seems to be a spiking interest in Gold. The upside of this downtrend on Bitcoin is that you can get into the 7C Digital Marketplace for a smaller fee! Check out the new market prices!
Kitco Chart: http://www.kitco.com/finance/bitcoin/
In fact, one could say that the price of gold experienced this very type of upswing in yesterdays trading as you can see from the nice uptick there, as people start to get more gold-hungry with all the increased gift catalogs and jewellery items being promoted over the holidays. Gold enthusiasts are loving this mini-rally, and praying that gold will hit the $1600 highs that it bounced to following the 2008 meltdown.
Kitco Chart: http://www.kitco.com/charts/livegold.html
Overall the markets have been largely active, without any quick selloffs or shakedowns causing any tumultuous crashes, even though Canada’s index has suffered some big bounces from the drop in oil, with provinces like Alberta being hit the hardest as the Oil Glut continues to push oil around the $65 dollar mark, over 30% lower than earlier sessions.
TSX Composite Chart: https://ca.finance.yahoo.com/echarts?s=%5EGSPTSE
Stay tuned for the end-of-the-week update where we will recap some of the most dynamic moves that are reshaping the global economy in this revolutionary time! Until then, head over to https://7cbit.com/c7/ and get on the market.