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Morning JAVA: Gold And Bitcoin Break Records!

Morning JAVA: Gold And Bitcoin Break Records!


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Gold Closes At Record High While Bitcoin Soars To New Daily High

 

March 4, 20224 is a date that is going into the history books. Yesterday, I watched in real-time as gold and Bitcoin reached new daily highs. I was stunned as both commodities soared at the same time. Gold has breached the $2,000 mark no less than five times since August, 2020 but then was pushed down as low as $1615 by the last week of October and first week of November, 2022. I believe that was the last time we'll ever see gold that cheap again. The snapshot below of gold's daily chart was taken just after noon, yesterday.

Gold - Match 4, 2020

Here's the five day chart for gold...

Kitco Gold 5 Day Chart - March 5, 2024

Gold closed yesterday at a record daily high ($2,116) while just last Friday, it closed at a record weekly high. At time of writing, gold continues to climb and is now at $2,130.

Then, there's Bitcoin. It was amazing to watch as the price surpassed $66K, then $67K and finally, $68K. I knew that what I was experiencing was and is historical so I just had to take a few screen shots to have a personal record of this incredible event. I went to take this next shot just as Bitcoin hit $67K but in a matter of seconds, the price dropped back down below $67K.

Bitcoin - March 4, 2024 (Noon Time)

The next shot got it...

Bitcoin $67K - March 4, 2024

Bitcoin just kept on going up...

Bitcoin - $67.5K - March 4, 2024

And up! Finally, here's the history making snap shot of $68K Bitcoin...

Bitcoin $68K - March 4, 2024

At time of writing, Bitcoin continues to hold well at $67.88K while it did manage to go to almost $68.9K last night. The previous intra-day high, $68.99K was set in November, 2021. Bitcoin is famous for charging upward by thousands of dollars in a single day. Bitcoin should have no problem breaching $70K and soon. These are exciting times!

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Silver too, saw a nice jump upward yesterday but remains extremely undervalued. Silver is now fighting to breach $24.

Kitco Silver - March 4, 2024

Is silver about to play 'Catch Up'? It is without a doubt, the most undervalued asset on the planet. It should be between $75 and $150 (Maybe $300 - $600?) when adjusting to inflation which for some strange reason, has not affected silver one bit.

Congratulations Bitcoin HODLers. Redemption has arrived.

For me, I'm a silver HODLer. I love silver. So where's my damn redemption?

Soooooon!

 

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SweptOverNiagara
SweptOverNiagara

Name's Joe and I live in Ontario, Canada. I like writing on a wide variety of topics. I enjoy keeping track of markets, investing and commodities and the crypto sector. Also do some coding for web browsers.


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