Where is the big money flowing in the markets?
21 May 2024
Yesterday, on May 20, gold (XAUUSD) reached a new all-time high of $2450 per ounce! At its peak, the growth was an impressive 17.5% since the beginning of the year!
Some analysts had previously predicted a rise up to $3500 per troy ounce, and current prices are confirming these forecasts.
Bitcoin (BTCUSD) also did not lag behind. The leading cryptocurrency gained 8% yesterday, reaching $72,000. Since the beginning of the year, Bitcoin has grown by 73%!
FreshForex analysts are confident that gold and Bitcoin form a powerful duo for protecting and growing capital. Here's why:
- Inflation Hedge: Gold and Bitcoin are often viewed as hedges against inflation. Both assets have a limited supply (finite amount of gold on Earth, finite number of Bitcoin), which increases their value amid rising money supply.
- Portfolio Diversification: Investors and traders, fearing inflation, prefer gold and Bitcoin as stable assets that can better preserve their value over time.
- Capital Inflow: Wealthy investors and speculators have always bought precious metals to preserve capital. The launch of Bitcoin funds on the exchange attracts new large investors, supporting high prices.
- Geopolitical Risks: Conflicts in Europe and the Middle East increase the demand for stable and safe assets.
We’re tired of repeating it, but our analysts have consistently predicted the current rise in both gold and Bitcoin, and they are now confident that the growth is not yet over.
Don't miss the chance to invest in these current market trends with FreshForex!
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