Silver as well as the stock market peaked in February 2020, and crashed significantly into March.
Below, is a chart of silver (top) and the Dow (bottom):
On the silver chart, I have indicated how the current season is shaping up like the previous season by marking the similar patterns from point 1 to 5.
On both patterns, point 4 came in right at the beginning of the year (2020 and 2021respectively). If the two patterns on the silver chart continue in a similar manner, then we could see silver crash much lower like it did in March 2020.
However, if the patterns diverge, then we could see a move higher that is similar to the the move from about July 2020 (It is often the case that the big moves come when significant patterns diverge). The red and green lines are my feeling of what would constitute a divergence or a continuation of the similarity.
It is still all about US dollar Meltdown. All the the assets that act as a safehaven from US dollar meltdown are taking their turn to hammer the US Dollar.
Silver has been lagging assets like gold and Bitcoin from a short and long-term perspective. Silver is still way below its 1980 all-time high, as well as its 2011 high.
When it is the time for silver to run, then you should know that trouble is about to get real (especially when $50 is surpassed). It was the start of this massive fraud when silver was demonetized , and it is soon to be the end of it, when silver will re-emerge as one of the most significant monetary assets.
Previously, I have shown how Bitcoin is leading silver higher, and vice versa. .
This makes perfect sense in these time, since it is all about the US dollar. Assets that offer a “safehaven” from US dollar meltdown will go higher in some sort of related pattern.
Here is an update on that analogue where Bitcoin is leading silver higher (you can find the analogue where silver is leading Bitcoin higher in the previous update):
I have marked similar patterns (1 to 5) on both charts to show how they could be similar. Bitcoin has already exceeded its point 3 high.
Silver is still lagging below the recent high (point 3 high), and will eventually follow Bitcoin higher than point 3 in this comparison.