Is The Bottom In For Gold? Silver? Bitcoin? | Lawrence Lepard

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**Adam Taggart** (0:46)
All right, and we should be live. Welcome to Thoughtful Money. I'm Thoughtful Money founder and your host, Adam Taggart, welcoming you here for a special live stream with Sound Money expert, Larry Lepard. Lawrence, how are you?

**SPEAKER_2** (0:58)
Good to see you, buddy.

**Lawrence Lepard** (0:59)
Great, thanks. Yeah, I wouldn't say expert. Maybe call me advocate.

**Adam Taggart** (1:03)
All right. Sound Money advocate. But your reputation precedes you, I'm sure, for most viewers. I'm sure a lot of people here have read your book, The Big Print. Excellent book out there. If you haven't read it, folks, you certainly should should run and get it now. So I huge thanks to Larry. I asked him to come with very little notice to come in and do a live stream with us today. So folks, I've got some questions for him, but then we'll also take as many live Q&A questions from you, the audience, as best we can. I'll let you know when we get to that section. Just ask your question in the Q&A in the live chat here and I'll pull it up. All right, so Lawrence, over the past year, the precious metals and Bitcoin soared to new highs, new all-time record highs, which they are now down from fairly substantially.
Probably gold has fared the best, but both silver and Bitcoin pretty much lost half their value from the peaks. Now, interestingly, it's been a shorter time period from the peak with the gold and silver. Bitcoin has fallen from its peak and kind of been languishing for longer. But the question I'm hearing from investors about all three is, is the bottom in? And we're starting to see in all three of those assets that the recent lows are all behind them. And they seem to be bouncing here. The question is, is this the flash in the pan before we go to plum to even further depths? Or do we think the low is actually in and we're setting ourselves up for a nice recovery here? I know you're not necessarily like a technical analyst or whatnot, but you follow this space very closely. You obviously invest in these assets through your fund. So what is your price outlook?

**Lawrence Lepard** (2:53)
Yeah, so I'll give you, and I'm going to hedge myself a little bit as well. So I don't know if the low is in yet. If it's not in, we're close to it. Let me put it that way. And I certainly from a sentiment point of view, particularly in both assets really, I mean, Bitcoin had 126 in October, right? And it's been as low as 60 on a spike and it's mid high 60s now. So and I got to tell you, the sentiment is just dreadful, right? I mean, it's everybody's cranky and, you know, it's there's a lot of negative sentiment in Bitcoin land. The gold people are, you know, it's a much shorter experience because, you know, gold is roaring into the first part of the year and now is corrected in silver even more so. And I really think all three of them would happen here. I was, they all just got ahead of themselves. I think, as you know, I manage a fund. I have a long term time window. I measure it in years and really five-year time frames. And so I'm very, very comfortable that I'm right about the thesis, you know, over a longer time frame. On the shorter time frame, my best answer is, if we're not at the low and they haven't turned around, we're close. And I'm not sure if I didn't have any of them. I certainly wouldn't wait to buy them. But, you know, there's always what I call the correlation of one event, which is the March of 2020 or the, you know, September of 2008 kind of situation where all markets seize up and everybody, you know, there's a global margin call and a demand for cash. And guess what? Everything gets sold. And in that event, they're all going down. And, you know, Bitcoin could go to 50 or 60 I doubt it will, but it could. You know, gold could easily trace back into the 38, you know, 3,800.