Cryptocurrency Investors Flock to Silver Before its 15% Price Drop

Silver prices saw a significant reversal on Monday, reaching a high of over $117 before dropping by more than 15% within hours, erasing approximately $900 billion in market value. This shift is indicative of retail traders, including those from the cryptocurrency sector, turning their attention to traditional assets like precious metals during volatile periods. The increase in silver prices was accompanied by a surge in retail discussion. Despite this, the market witnessed a rapid fall to about $103, erasing most of the day's gains. This episode demonstrates the speed at which speculative money can move and how quickly crowd attention can shift, leading to highly volatile trades.