Silvergate: A Crypto Stock Trade That's Outperforming

SummarySilvergate provides financial services to companies dealing in digital currencies.It has followed crypto movements to the upside but is not dependent on BTC climbing in price for the stock to appreciate.Technical strength off the July low has signaled the likelihood that a major bottom is in place and price is going much higher.Produced with Avi Gilburt and Ryan WildayThis article will delve into a high-quality technical setup that's developing in Silvergate Capital Corp. (NYSE:SI).Silvergate Capital provides solutions for lending, payments, and funding to a growing array of companies in the digital currency space. They also offer financial services such as commercial banking and commercial business lending.So, while Silvergate has risen and fallen in sympathy with the crypto market as it's deep in the digital currency service space, its destiny is not entirely tied to movements in Bitcoin.That said, regarding Bitcoin, though the path forecasted in the various "Moonpath" articles published over the past several months has clearly been incorrect, our expectations are still quite bullish over the next 1-3 years. We still see BTC going substantially higher and rewarding investors with longer time horizons.Though not exciting in and of itself, SI is down roughly 38% year-to-date as of writing this article, whereas BTC is down approximately 58%. From the 2022 low, which was struck in July, SI is up over 82% as compared to BT...