Does he really call himself a trader?
To make those kind of generalized comments on such a short time window is complete ignorance.
Anything that has seen the kind of momentum Bitcoin is seeing right now will see pullbacks and volatility, no matter what it is. Generalizing about the Bitcoin market on a 2 hour trade window is just plain ignorance or outright stupidity.
You are also think that silver worth 29 USD right? (lol)
Just a few days later and Bitcoin trading at $69.80 proves how ignorant that analysis was.
Precious metals and Bitcoin cannot be compared one-to-one. We have thousands of years history with precious metals.
Bitcoin is more like a startup. The topside potential has yet to be reached. When it has reached market saturation then we can start treating it like a commodity trade.
Precious metals right now are just off their all-time high. While the general fear that drove them so high has abated, I believe this sentiment is only temporary.
The fundamental problems that caused the fear are still there. The recent events with the Euro are beginning to highlight those problems yet again. Don't think for a second the dollar is immune.
When that happens we'll see another surge in precious metals. While a little too high for me to be buying right now, the run is far from over. I'm holding currently.
P.S. At these prices and this kind of momentum, other then short-term day trades, Bitcoin is way too risky for me to buy as well right now. I'm holding, waiting for another consolidation period and buy opportunity. Who knows how high this momentum can push the market. But it's a wild-ass gamble to try to jump on a moving train as they say.