On Friday, Silver asset was very volatile, and it even reached $30 mark. However, soon enough it pulled back and closed the day at around $28 only. As a result, traders who bought the asset high, are sweating their decision now because the market will continue to have the ongoing trend after a very exuberant spike on Friday. Moreover, market is expected to be kind to US dollar in the next 24-48 hours and this can prompt further decline in Silver. Eventually, Silver buyers will be a viable trade but before any of it takes place, traders will try to take profits and push Silver price down further.
Bitcoin movements have been nothing short of spectacular in the past few days. After hitting an impressive $12000 mark, a number that can attract a lot of buyers as well as sellers, BTCUSD pulled back and went down towards $11000 level. Recently, Bitcoin price movement has been disproportionate to US dollar – as USD has been getting hammered, Bitcoin enjoyed a rather positive surge. Naturally, after the most recent awakening of USD, it is expected for Bitcoin traders to react and try to find value in bearish strategies moving forward. Interestingly enough, Bitcoin trades very similarly to a commodity and shows many familiar symptoms of the lot. As a result, commodity markets and Bitcoin tend to move in the same direction because of the USD involvement in both markets