TechFlow News, February 1st: According to Caixin, Steve Sosnick, Chief Strategist at Interactive Brokers, stated that silver’s recent performance resembles that of “meme stocks.” Although the announcement of Trump’s nominee for Federal Reserve Chair—John Walsh—strengthened the U.S. dollar and thus pressured silver trading, silver had already begun declining in overnight trading prior to the official announcement. Additionally, data shows that over the past two years, gold and Bitcoin have exhibited highly correlated performance, with their returns differing by only a few percentage points; both assets are now again converging in trend. Sosnick concluded that while investor appetite for alternative assets and momentum-chasing behavior persists, the phenomenon of “memefying” a traditional commodity with millennia of history may be nearing its end.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
