It has been a wild ride in the markets lately! The price of gold has broken through the $2,000 mark, the S&P 500 is at a new record high, and Bitcoin has moved past $35,000.
These occurrences are indicative of investor sentiment in the face of political and economic uncertainty around the world. Gold, as a safe-haven asset, is being sought after for its stability and proven track record over the centuries. This surge in gold prices can be attributed to the global debt crisis, as well as a weakening of the dollar’s purchasing power.
Similarly, the stock markets have increased on the back of fiscal stimulus and accommodative monetary policies by governments and central banks. The index has hit a new record and is largely fueled by a recovering economy, as well as encouraging news about vaccine development and delivery.
The real star of the show, however, has been Bitcoin. The digital currency continues to surge in popularity, as its price moves past $35,000. In 2021, Bitcoin prices have increased nearly 70%. This has been driven by a number of factors, including widespread adoption of cryptocurrency, institutional investors entering the market, and the U.S. Treasury hinting at a crackdown on traditional financial markets.
The global marketplace is currently in a state of flux, where asset prices are moving rapidly on expectations of a bold economic recovery in 2021. As investors continue to seek the best options in a highly uncertain market, the price of gold, stocks, and Bitcoin are likely to remain volatile.
“Gold & Bitcoin Boom – US$2000 & US$35,000 Milestones Achieved!
