dollarvigilante.com / by Jeff Berwick / August 28, 2017
Bank of America Merrill Lynch reported this week that investors had pulled $30 billion from US stock funds over the last ten weeks. And, the latest week of outflows marks the 10th straight week of withdrawals, the longest in more than a decade.
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Investors pulling $30 billion from the stock market in the last ten weeks is very interesting as the value of all cryptocurrencies has simultaneously surged by $47 billion in the last ten weeks.
Could it be that investors are, smartly, getting out of the stock market and into cryptocurrencies?
It’s possible. The Dollar Vigilante’s Senior Analyst, Ed Bugos, has sensed as much, noting in a personal post last week that while he does not, “see much competition between gold and the cryptocurrencies, [he] definitely [sees] some between the NASDAQ and the crypto space.”
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