The Gold bull run just achieved a new milestone after the price broke into a new Gold all-time high, making it the first time the gold price will ever reach the $2,000 region.
This massive price surge comes after five straight months of back to back gains in the gold market as investors continue to sought safety from the coronavirus pandemic and the negative effects it is having on the global economy.
What Does This Mean For The Economy And How Can You Prepare For The Coming Inflation?
The rise of Gold speaks volumes about the current health of the economy and the risk tolerance of investors.
Most investors are currently fleeing to safety in a bid to protect their wealth especially now we are seeing a record amount of both small and large businesses declaring bankruptcy and shutting down.
We are also seeing governments around the world continue to make matters worse as they print fiat money in mass out of thin air. This money is going into the economy via various stimulus programs that are having little to no effect on reviving the economy.
However, what it does do is it makes saving in fiat currencies a waste of time as inflation and cost of living continues to rise, eating away at the value money once had and making life difficult for the average citizen.
The only thing you can do to protect yourself is to invest in assets with true values that the government cannot manipulate, control, or create out of thin air. Some of those assets include Precious metals, Bitcoins, and Altcoins.
How Can You Make Millions From Bitcoin At This Time?
I will be totally honest with you, “things will only get worse before it gets better” and we can clearly see it for the current fiat financial system.
The system is crumbling and it is only a matter of time before it collapses. I wrote in detail about this issue in my Bitcoin analysis titled “Chinese Banks Collapsing, U.S Dollars Crashing, Bitcoin To $100k” where I talk in-depth about the crashing dollars.
In the coming years, I expect to see a massive transfer of wealth to cryptocurrencies as the world begins to adopt this method as the next means of payment worldwide.
And those that will benefit and make a killing from it are those that are able to position themselves and get in early for the coming massive bull run that would push the Bitcoin price to the hundreds of thousands.
Gold making a new all-time high today simply signifies that investors are ready to make the switch and are no longer confident in the current/future growth of the economy under a fiat monetary system.
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my How To Trade Bitcoin Guide. You can also check my top list of Best Bitcoin Exchanges To Trade With.
If you are looking for the best cryptocurrencies to put on your watch list and trade, then check out my Top 25 Cryptocurrencies by Market Capitalization