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Silver Price Will 10x SOON Because of This

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Peter Schiff - How Far Will Bitcoin Drop. The Price Of GOLD Is Rising!

The one asset class that I really want to focus on today is Bitcoin and cryptocurrencies in general, which really crashed today. Now that doesn't mean, I think the bottom is in. It's not, but we certainly got. A short term capitulation type sell off, which is something I have been anticipating and warning about for the last couple of weeks on this podcast. As I've been watching Bitcoin carving out a classic head and shoulders top, and to me, there was an extreme amount of complacency. In the crypto community with respect to this ominous technical side. And it seemed pretty obvious to me that we were going to get a pretty big sell off. And we did. We got the whole thing today. In fact, the big drop happened between about I think eight 30 and nine o'clock in the morning. Eastern time. That's where Bitcoin fell from about 38,000 to about 3000 within a half hour. That is a 20% decline in one half an hour. I mean, one thing that today's action should do once and for ...

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There's some really crazy stuff happening in real estate. Cause I've been a real estate investor for 20, 30 years usually was the core holding in my portfolio, but that's changed quite a bit. So let me tell you what I'm thinking. Commercially real estate is going through dramatic change. Why the pandemic change behaviors of everybody all across America. Let's just take, for example, big office towers in New York city or in Boston or Detroit or any city. You know, before the pandemic, everybody went to HQ to go to work. Everybody said, okay, let's get in the elevator with 60 people, go up to 78th floor, but that's all changed. We've proven in this economy because of COVID that many people let's say in accounting, compliance, logistics, they don't want to work in their cubicle anymore. They want to work at home and they've learned over the last year, they can do it successfully, so they don't want to come back. So that reduces the demand fo...