Precious Metals Pounded As Bitcoin Soars To Best Week Since 2013

Could be worse, you could be short Bitcoin this week…

Nasdaq closed lower for the 2nd week in a row – the first such consecutive loss since August…

Retailers were squeezed to the best gains on the week, financials rallied solidly but Tech fall back to unch…

Gold tumbled 2.5% this week (biggest weekly drop in 7 months) as Bitcoin soared 40% (its best weekly gain since Dec 2013)

FANG Stocks rose on the week with an opening bid every day…

High Tax stocks outperformed low tax…

Treasury yields rose marginally on the week..

But 30Y ended practically unchanged…

And the yield curve ended flatter on the week…

The Dollar index rose all five days this week, the first 5 day win streak since March…

The biggest drivers of dollar strength were the commodity currencies (Aussie and Loonie)…

Copper and Silver were joint worst performers in the commodity-space as Crude rebounded today but ended lower on the week…

Silver is now underwater for the year…

Finally as Bitcoin slipped today, Ethereum outperformed…

For those keeping track, this is how long it has taken Bitcoin to cross the key psychological levels:

• $0000 – $1000: 1789 days
• $1000- $2000: 1271 days
• $2000- $3000: 23 days
• $3000- $4000: 62 days
• $4000- $5000: 61 days
• $5000- $6000: 8 days
• $6000- $7000: 13 days
• $7000- $8000: 14 days
• $8000- $9000: 9 days
• $9000-$10000: 2 days
• $10000-$11000: 1 day
• $11000-$12000: 6 days
• $12000-$13000: 17 hours
• $13000-$14000: 4 hours
• $14000-$15000: 10 hours
• $15000-$16000: 5 hours
• $16000-$17000: 2 hours
• $17000-$18000: 10 minutes
• $18000-$19000: 3 minutes
• $19,000-$15,000: 24 hours