Selcoin, which has been publishing its opinions on Twitter for a long time, has been sharing these views on YouTube for a while. In its video today, Selcoin evaluated the current developments in the global markets and commented on the future of assets such as gold and silver.
In his video published today, Selcoin, who gave some information about coronavirus in general, explained how countries like the USA cope with this crisis. Saying that many countries, including the USA, started printing money, Selcoin thinks that we are now in “paper money chaos”.
Saying that the worst economic distress ever seen since the Second World War has been seen, Selcoin says that most central banks “make money like crazy” and put money into the economy “through loans and grants”. At this point, Selcoin emphasizes that the assets with limited supply will gain value. So what does Selcoin think about the future of entities that are really scarce like gold?
Prediction in Silver
Silver performed incredibly especially after the coronavirus, and the US-based spot price of silver went up to over $ 20.
In its video today, Selcoin reminded that “silver is the new gold” and reminded that silver has long waited for such an increase. Stating that he has drawn attention to the $ 21 level in silver for a long time, Selcoin emphasized that this level is the resistance point. Selcoin also says that if this point is exceeded, the next target is $ 27.
Dollar Will Rise Hard
Selcoin is not sure how logical it is to invest in silver right now. Although he points to the $ 27 level, he does not neglect to emphasize that it may be a little difficult to exceed this level. But when Selcoin says this, it also points to an important event: the possibility of the dollar exploding…
According to Selcoin’s views, we will see that gold and silver prices are rising rapidly in case the dollar is booming. Saying that the dollar is now “falling as if”, Selcoin thinks that the dollar may “suddenly rise”. So much so that he says that no one can hold gold and silver in such a scenario.
Should gold be bought?
Selcoin has long been saying that the price of gold will go up. Now he has shared some ideas with new investors as the gram price of gold has exceeded 400 liras. Commenting on the current outlook of the gold market, Selcoin gave the following message to investors:
“The support is still 395 pounds right now… If I were to enter new, I would expect the 395 level, but I would still enter partially. Those who hold gold in their hands; Keep holding… (Gold) I think it will bring very good profit in the medium term. It is also open until February-March. TL broke a record already at the gate. Unless the possibility of correction arises; I do not expect correction under it… If you say “I am a long term investor”, you can buy grams of gold at every price. ”
Crypto Money Overview
Selcoin, which is followed especially by the cryptocurrency community, also commented on the general situation of the cryptocurrency market in its video today. Selcoin, which says that we have seen some activity especially in alternative cryptocurrencies (altcoin), says that it is currently investing in “EOS and NEO” and still does not “sell” them.
Selcoin, who says that he will not invest in already overcrowded cryptocurrencies like Chainlink (LINK) for now, states that he will continue to wait for now. Speaking about Bitcoin as well as altcoins, Selcoin said that BTC is always the “crown” and added that it would make sense to buy Bitcoin as long as the correction in the market.