What would be the effect of gold and silver crash on bitcoin? I suspect many bitcoiners are also gold/silver bugs. Would they sell bitcoin to cover their loss in PM? Or they would move their investment from PM to BTC?
I sold 21oz of gold today, but would have sold anyway. The money will be used to pay trading debts from last week (i.e. has already been spent to buy bitcoins at sub-$100).
I am short term bearish on paper and physical gold, bearish on paper silver and bullish on physical silver.