The markets have been going crazy recently with the announcement of another stimulus check on the way. This will bring needed short-term financial relief to many and it will also give others extra cash to throw into things, such as, Bitcoin.
The plummeting value of the dollar is coinciding and further pumping the value of the assets in exciting ways.
Gold is approaching $2000 an ounce. Silver again rose over 5% in day, no at nearly $25 an ounce. And Bitcoin went from $9300 to $11,200 in a couple of days.
These are exciting times for all of those who have been holding onto these assets.
How high will these assets go?
I’m not a financial advisor but there does appear to be open skies if you are speculating.
Once gold passed $2000 it will be hitting all-time-highs. When this happens, there is no resistance other than the limitations of ones mind. A good guess would be that we’d go to $2250 or even $2500 relatively quickly.
Silver should ride up to $35 quick. There won’t be much resistance after $25 so enjoy that ride because it won’t last long. At that point it may hang out for awhile.
As for Bitcoin, many are projecting that $15000 will arrive soon and this would not surprise. I expect pull backs and nothing is more volatile than the cryptocurrency market, so be careful!
The more the federal reserves prints money and gives people free cash during the C0vid crisis, the more the dollar will nosedive. As we enter a deep recession, proven assets like gold and silver are primed to pump, while Bitcoin is primed to steal the show.