Is There a Commodity that Could Become Bigger and Larger than Bitcoin Itself?


There are many people that believe that Bitcoin (BTC) and virtual currencies have experienced a bull run in 2017 that will never happen again. That means, they think it was a once-in-a-lifetime phenomenon.

However, there might be a new commodity that could surprise investors in the future and become even bigger than Bitcoin.

What is Uranium All About?

Micky.au explained what investors are looking for. It seems that millionaires are starting to get excited about uranium and their future potential. Perhaps, the volatility related to this asset is attracting investors from all over the world. Back in the 40’s and the 50’s uranium prices soared due to the large demand from the global nuclear arms race.

The rush related to uranium lasted for around a decade. However, the global anti-nuclear sentiment ended the bull market and the bear market for this asset started, lasting 20 years. In 1970, a new uranium bull market started after countries started to adopt nuclear power.

Uranium prices increased tenfold and several uranium stocks grew more than 100 times. However, a new bear market started after the Chernobyl disaster and the Three Mile Island meltdown.

In 2001, prices bottomed at around $8 a pound. The price was far below the cost of production. In the early 2000s, with an expansion of power generation program, all the conditions for a bull market were ready. Uranium prices grew up to $130 in 2007 providing gigantic returns.

Later in 2016, due to the Fukushima nuclear power plant meltdown and the intention to close many other nuclear power plants, the price dropped down to $18, being traded under the cost of production.

Uranium could start to grow again in 2019. At the moment, the Uranium spot price is currently being traded just below $30. Since 2016, the price of the asset grew by almost 60%. However, the price is still far below the cost of production.

Japan has also restarted 9 reactors since the Fukushima disaster hit the country. At the same time, eight brand new reactors started operating across the globe in 2018. Micky contacted John Quakes, an Earth Sciences researcher, who said that there is a rising demand for clean nuclear energy. About it, Mr. Quakes commented:

“There is rising demand for clean nuclear energy, especially in China and India where thousands die every year from air pollution brought on by the burning of coal to produce electricity, while many countries around the world are taking another look at adding nuclear power to their energy mix in order to meet carbon emissions reduction targets.”

At the same time, there is increased adoption of electric vehicles, this demanding more electricity. These charging stations need clean energy.

He went on saying that the market is getting positioned for a new bull market in the near future, which is going to persist over the next few years. At the height of the last bull market, there were around 500 companies trading related to uranium. Now there are just 50, if not less.

Quakes explained that there are new crypto enthusiasts looking into the uranium market. He started a uranium Twitter account back in 2017. At that time, Bitcoin was starting its bull market to reach $20,000 in December. Now, Quakes has more than 7,300 individuals following him and many of them come from the cryptocurrency market.

Micky has also contacted Benjamin Blunts, a cryptocurrency expert that is the co-owner of the crypto trading advice company “cryptoinminutes.” He said that there are more people realising about the potential of uranium and its future. Furthermore, he said that mainstream media is not covering the issue.

Although there are many differences between Bitcoin and uranium, he says that charts have several similarities.

“The biggest similarity I have noticed is that basing/accumulation process for the URA global X ETF over the last few years is very similar in structure to the Bitcoin bottom back in 2015,” he said.

Nicholas Merten, the popular crypto youtuber, seems to be interested in the uranium market. He said that uranium is similar to a cryptocurrency. He said that due to the Fukushima incident, people believed that uranium was not going to be used anymore. However, he shows that the US has between 20% and 30% of its power come from nuclear reactors.

What will happen with the uranium market is not clear, however, there are many experts already talking about this asset and what can happen in the future. The interesting thing is that many crypto investors are starting to look into other digital assets.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide