Palladium is doing its best impression of bitcoin as of late!

Bitcoin has enjoyed a strong start to the year, up close to 40% even after giving back some of those gains recently.

Palladium started the year around $1,900 and the other day got near $2,800.

Which for those keeping tracking, makes for a 47% gain so far year to date.

That is even better than bitcoin has done so far this year!

Does the current palladium chart remind you of anyone else?

(Source: https://twitter.com/CryptoNite35/status/1232044339708256258)

Yep, it sure looks like bitcoin did back during its parabolic phase!

The interesting thing is that it's not just bitcoin that is having a great start to the year...

Palladium is performing very similar, gold is performing very well, and stocks (until this past week or so) had been performing well as well.

Basically we had been seeing everything that is considered as a risky asset going up.

Why is that?

Likely it has to do with the continued easy money polices being adopted by just about every country on the planet.

As fiat purchasing power goes down, the price of assets in fiat goes up.

Which is exactly what we have been seeing.

The really interesting thing to me is that we had been seeing bitcoin going up when other things were going down relating to the coronavirus.

However, today, most risky assets tanked and so did bitcoin.

They all seemed to be positively correlated today.

So, which is it bitcoin, are you a risky asset or a safe haven asset?

I guess the answer to that question all depends on which day you ask it. :)

Bitcoin has properties of both and at times can trade like either or.

Which may be a benefit to bitcoin investors.

It can go up when stocks do well and it can go up when they do poorly... a win win perhaps.

Stay informed my friends.

-Doc