Silver (SLV) price has touched $ 30 today, up by over 11% amid calls for short squeeze by the wallstreetbets Reddit group after doing the same to GameStop (GME) stock. The price of silver has risen more than 10% since the group targeted a price of $ 500 to lower JP Morgan’s Silver short. Just like Melvin Capital, even JP Morgan short traded a significant amount of Silver and not only JP Morgan but a significant portion of the hedge funds also bought a short position against Silver, making it one of the markets with the most short positions on Wall Street. brought.

 

 

The rise of GME against all the possibilities of the retail market with a Reddit group has led to a frenzy for such short-selling markets and as a result physical silver is currently out of stock due to many vendor lists.

Can Reddit investors beat JP Morgan, like the Melvin Group?

The silver market is currently being so tightened that for every $ 1 increase in price, about $ 200 million short positions are liquidated. A similar situation has seen GME shares on Wall Street jump from under $ 10 to over $ 450 within a few months.

See Also
"A New Wave of Short Squeeze?" What Awaits Silver Price

Max Keizer, a major bitcoin advocate, is currently pushing crypto to help individual investors squeeze Wall Street. He even brought up a similar campaign he did in early 2010.

Keizer, the host of a popular bitcoin podcast called Orange Pill, initially made bitcoin price predictions of about $ 100,000, sounding funny. But as Bitcoin saw a surge of over $ 40,000 this January, people started to weigh on its predictions. Recently reminded people of the same and said,

2010: People did not believe that Max and Stacy could increase the price of silver to $ 500 with a global short squeeze.

The # ShortG Silver idea will be tested now!

2011: People didn’t believe Max & Stacy would replace #Bitcoin (then $ 1) fiat and trade over $ 100,000.

LEAVE A REPLY

Please enter your comment!
Please enter your name here