Silver

Gold

<p>The post <a href="https://coinpedia.org/news/gold-and-silver-surge-to-record-highs-is-bitcoin-next-in-line/" rel="noopener noreferrer nofollow">Gold and Silver Surge to Record Highs: Is Bitcoin Next in Line?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In recent times, precious metals like Gold and Silver have been on a remarkable rally, hitting new record highs. Gold, in particular, has been grabbing attention, soaring to a new all-time high against the USD, with Silver not far behind, reaching an 11-year peak above $30. This surge is driven by various factors, including geopolitical uncertainties and sustained demand from central banks.</p>
<h2 class="wp-block-heading" id="h-gold-s-rally-and-silver-s-surge"><strong>Gold’s Rally and Silver’s Surge</strong></h2>
<p>Gold’s price rally, fueled by geopolitical tensions and expectations of a dovish move by the Fed, has pushed it closer to $2,500 per ounce. According to The Kobeissi Letter, gold prices have surged to a new all-time high of $2,450, marking a 23% increase in three months and a 35% rise since October. This surge outpaces the S&amp;P 500’s gains, driven by escalating geopolitical tensions in the Middle East. Plus, central banks’ record gold purchases in Q1 2024 add to the momentum. The post raises the question of how much higher gold prices can climb given these factors.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">JUST IN: Gold prices rise to a new record high of $2,450, now up 23% in just 3 months.<br><br>Gold prices are now up 35% since October, even outperforming the S&amp;P 500's gain of ~29%.<br><br>As geopolitical tensions in the Middle East continue to escalate, gold is being viewed as the global… <a href="https://t.co/IZVlJHmXZQ" rel="noopener noreferrer nofollow">pic.twitter.com/IZVlJHmXZQ</a></p>— The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1792531131243389410?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 20, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>On the other hand, Silver’s surge is attributed to its safe-haven properties, a weaker U.S. dollar, and increasing industrial demand, especially in renewable energy applications.</p>
<h2 class="wp-block-heading" id="h-bitcoin-s-potential-to-catch-up"><strong>Bitcoin’s Potential to Catch Up</strong></h2>
<p>Despite Gold and Silver’s recent price rally, Bitcoin is still behind in terms of valuation. However, analysts believe it could catch up soon, especially with its newfound status as a regulated and tradable product on Wall Street. Some experts think Bitcoin might double soon, following its historical pattern after halving events. But others, like Galaxy Digital CEO Mike Novogratz, believe it might stay steady for a while, with possible highs between $55,000 and $75,000 by the end of June as <a href="https://www.bloomberg.com/news/articles/2024-05-14/galaxy-s-novogratz-says-bitcoin-to-trade-between-55-000-to-75-000-in-quarter" rel="noopener noreferrer nofollow">reported </a>by Bloomberg.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Serious Question: Why is retail not seeing <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> now?<br><br>Traditional markets are trading at new all-time highs. Gold and silver are performing very well. It should be clear to everyone by now that they need some inflation protection ASAP. Traditional markets, gold, and silver… <a href="https://t.co/M6Z20p5vOL" rel="noopener noreferrer nofollow">pic.twitter.com/M6Z20p5vOL</a></p>— sunnydecree (@sunnydecree) <a href="https://twitter.com/sunnydecree/status/1792113915872034841?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-advice-for-investors"><strong>Advice for Investors</strong></h2>
<p>Bitcoin’s price has remained stable, staying above important levels and only 8% below its all-time high. Despite this, many are feeling bearish and believe the cycle is ending. In bull markets, it’s common for prices to move sideways as they consolidate before going up again. Some mistake this consolidation for distribution and end up selling too soon or not investing at all.&nbsp;</p>
<p>However, history shows that after each Bitcoin halving, there’s been a similar period of consolidation followed by price increases and new highs.</p>

Gold and Silver Surge to Record Highs: Is Bitcoin Next in Line?

Table of Contents

CoinPedia News

Other articles published on May 20, 2024

Wealth Creation: Experts Back BEFE Coin’s $100 to $200,000 Prognosis!

Solana memecoin protocol pump.fun exploit mastermind arrested in London

Unstoppable Momentum: Bitgert Coin's Price Set to Soar +400% This Week!

Binance Pushes Small Blockchain Ventures to Address FDV Issues

Deezy Founder Reveals Magic Eden's Coinbase Exploitation

The $2,500 doco about FTX collapse on Amazon Prime… with help from mom

Join our free newsletter for daily crypto updates!