Gold and Bitcoin at all-time highs, it’s the safe haven era
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March 8, 2024 6:05 p.m
It was the week of gold And Bitcoin (which also exceeded $70,000 today and then fell back to $68,000), which reached its all-time high and attracted the attention of global investors. The beginning of an era and phase in which safe havens appear to be able to play a leading role. Let’s see everything in the analysis.
The rush of gold and Bitcoin
Especially at a time when I… Financial markets As markets continue to push and there are fears that they could slow in the coming months, safe havens (old and new) have captured investor preferences. Gold, a safe haven par excellence, continued its upward trend today and updated the US currency’s historic high to $2,185.19 per ounce for the umpteenth time. Bitcoin, the alternative and digital safe haven, briefly surpassed $70,000 for the first time in its history before falling back to around $68,000.
What are safe havens?
A Safe haven This is a good with an intrinsic, “real” value that is assumed to not tend to lose value even after an increase in the general price level. The reason savers look for these types of assets is because they tend not to suffer devaluation, or at least to be less than liquid money, and therefore their value is less affected during an economic or financial crisis.
The reasons for the double rally
It’s about the details Uptrend regarding gold could also be a sign of a forward-looking move regarding central banks’ decisions, which could begin tapering in June Interest chargesInvestors try to anticipate trends, and when interest rates fall, precious metals that don’t pay coupons tend to become more attractive. On the Bitcoin However, in addition to the spot ETF launched in the US, there is also the halving expected in April, which continues to support the cryptocurrency’s rally.
In short, we will see whether gold and Bitcoin will slow down or continue to rise in the next few weeks, strengthening everyone’s feeling that the crisis is about to beginIt was a safe haven.
