Ether-Bitcoin: Moving in the Same Direction
- Bitcoin and ether have become more positively correlated.
- Both fell in 2018, drifted in 2019/2020 before rallying in 2020/2021.
- Bitcoin supply limited to 21 million coins, ether supply is unlimited.
- The ratio of ether’s volatility relative to bitcoin’s has fallen since 2018.
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Gold, Silver Rally Coincides with Fall in Output
- Gold, silver mining output has been falling since 2016.
- Pandemic led to mine closures in 2020, exacerbating declining supply.
- Falling output, more severe for silver, helped to rally prices of both metals.
- Gold output influences gold and silver prices more than silver output.
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