Please forward this error screen to 158. Please forward this error screen to 173. What is ethereum gold, cryptocurrencies and bonds were lower this week, while equities and commodities were mixed. Precious metals were hit hard, as palladium saw the largest drop of any asset class and platinum closed at a new all-time low.
The Canadian Dollar was the only rising currency, up 0. The Japanese Yen was weakest, falling 1. Bitcoin and Ethereum each rose early in the week, then sold off, with BTC closing down 4. 1 grams and ETH off 6. Despite these losses, Bitcoin remains in an exponential uptrend, more than doubling in value every 6 months and gaining in purchasing power relative to many other cryptocurrencies.
The best performing equities were the gold stocks, which rose 1. The Euro STOXX also rose, but just 0. Commodity carnage was focused on oil and precious metals. Palladium saw the week’s largest drop, falling 6. 3 grams, a new all-time low, but higher than palladium for the first time in months.
Crude oil was also hit hard, giving up 4. The strongest commodities were copper and cotton, up 1. Silver sat out the worst of the damage, closing down just 0. This was a great week for every asset class except the cryptocurrencies. Ethereum took the biggest hit, falling 25. Bitcoin also fell hard, giving up 21. The strongest assets were stocks, led by the Euro STOXX 50 index, which rose 4.
The Japanese Yen was the weakest government-issued currency, gaining 0. The US Dollar was strongest, rising 1. All the major stock indexes were very strong. Even gold stocks managed to gain 0. Oil and precious metals were little changed, ranging from platinum’s 0.
Copper was the strongest commodity, rising 2. 3 from its all-time high, and sits about where it sat at the bottom of the February “flash crash”, and about where it was 4-5 months ago, on the way up to the peak. 3 from here to violate the “doubling every 9 months” uptrend line. This leaves a lot of room to roam while still remaining in an exponential uptrend. For those interested in switching out of Bitcoin and into other cryptos, rather than banking profits in the form of gold or government issued currencies, it is worth noting that Bitcoin has actually been rising in purchasing power recently.
Weekly Update 16 Mar 2018: Crypto Crash? This was a rough week for cryptocurrencies, a good week for bonds, and a mixed week for other asset classes. Ethereum took the biggest beating, falling 16. Bitcoin also fell hard, giving up 10. Strongest was the Nikkei index, which rose 2.