Silver Price Could Rise 10 Times to $700 Per Ounce: Analyst

Oren Elbaz has drawn comparisons between the current state of silver and Bitcoin's position in 2015, before it reached new heights. At that time, BTC had fallen from its all-time high near $1,000 to below $200 after a painful correction.

Elbaz believes that just like Bitcoin, silver could experience a significant price increase, potentially rising 10 times its current value. This would place the metal at around $700 per ounce, with 100 ounces carrying a market value of approximately $70,000.

He attributes this potential rise to the unique combination of industrial and monetary characteristics that make silver an attractive asset. The metal has practical uses across various industries, including solar technology and electronics, and has historically served as money and a store of value.