Bitcoin Breaks Records at $94,000! Gold Surges Amid Russia-Ukraine Escalation—Last Warning Before the System Crashes?

EDITOR'S NOTES

With Bitcoin hitting unprecedented highs and gold climbing as the world teeters on the brink of nuclear escalation, investors are running for cover. The ongoing Russia-Ukraine tensions have spiked fear across markets, causing stocks to dip while safe-haven assets like gold and Bitcoin soar. The Fed’s next move on interest rates remains critical, with many questioning if this rally is sustainable or if a severe correction is just around the corner. Frank Balm digs into how to protect your assets as the traditional financial system looks shakier than ever.

Frank Balm Nov 20, 24

With Bitcoin’s meteoric rise past $94,000 and gold seeing new highs of $2,640 an ounce, the markets are flashing a loud and clear message: people are worried. After Putin upped the ante in the Ukraine conflict, talk of nuclear escalation spooked investors, triggering an uptick in safe-haven assets. Fear is up, uncertainty is high, and it seems the Fed isn’t making things any easier with its unpredictable rate policy.

Stocks took a hit right out of the gate, but by afternoon, the market clawed its way back into the green. Bitcoin, "King Crypto" as it's often called, leapt past $94,120 on Coinbase, and gold prices surged as investors looked for anything that feels stable in a time when the dollar’s losing power by the day.

What’s Pushing Bitcoin Higher?

Bitcoin’s incredible jump isn’t just about Ukraine or the looming threat of global conflict. This rally is powered by a series of bullish developments in the crypto world. From plans for crypto ETFs on the horizon to Trump’s company DJT eyeing the Bakkt exchange, there’s a lot of buzz keeping Bitcoin afloat. Even MicroStrategy is aiming to raise $1.75 billion for a fresh BTC buy, adding more fuel to the fire.

According to market analysts, the big milestone now is $100,000 for Bitcoin—a target that’s beginning to look less like a dream and more like an inevitability. Yet, in markets this volatile, anything can happen, so it’s worth keeping an eye out for potential retraces to support levels around $80,000 or even $74,000.

Gold’s Rise and the Fed’s Next Move

While Bitcoin soars, let’s not forget gold—the asset that’s been the bedrock of wealth preservation for thousands of years. Gold’s recent uptick is no surprise. When things get rough, people run to what they know has value, and gold’s strength right now is a signal that confidence in the traditional financial system is crumbling.

The Fed continues to be a wild card, with Fed Chair Powell sending mixed messages on rate cuts. The system feels like it’s stretched to its breaking point. It’s clear the Fed wants to keep things propped up at least through the next election, but after that, all bets are off.

Bitcoin’s “Euphoric” Phase—Is It the Top, or Just the Beginning?

With 99.3% of Bitcoin wallets now in profit, some say we’re in a “euphoric phase.” Historically, Bitcoin tends to spike up after this kind of exuberance, but beware—this could just as easily signal a top as it could the beginning of a parabolic bull run. One key indicator, the Puell Multiple, points to more gains, but as always, caution is wise in markets like these.

What’s Next?

Between the Fed’s erratic policy, geopolitical turmoil, and an ongoing loss of faith in fiat currencies, the financial system is at a crossroads. The rise in Bitcoin and gold is a signal of things to come, and it’s worth asking if now is the time to make your move. Don’t wait until the system crashes to start looking for safe assets.

If you’re wondering how to protect your wealth, now’s the time to explore all your options. Don’t get left holding the bag when the dollar crumbles.

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