How does the volatility in the cryptocurrency market affect the value of silver and why is silver crashing?

1 answers

• Lhanz JalosFeb 23, 2021 · 5 years ago
  Volatility in the cryptocurrency market can impact the value of silver due to its role as a safe-haven asset. When cryptocurrencies experience significant price swings, investors may seek refuge in assets like silver, which are traditionally seen as a store of value. This increased demand can drive up the price of silver. However, if the cryptocurrency market crashes or faces a downturn, investors may shift their focus away from silver and towards other investment opportunities. This shift in demand can lead to a decrease in the value of silver. As for the recent crash in the silver market, it's important to consider various factors such as global economic conditions, market sentiment, and supply and demand dynamics to understand the underlying reasons.
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