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The pioneer of the cryptocurrency markets, Bitcoin, has broken a new record by surpassing the level of $85,500 with a historic rise. The leading cryptocurrency, Bitcoin, which gained momentum after the presidential elections in the United States, has achieved over 100% value increase since the beginning of the year. In contrast to this upward trend, the gold and silver markets have experienced sharp declines, with precious metals losing more than 2% of their value. WHILE CRYPTOCURRENCIES RISE, PRECIOUS METALS LIKE GOLD AND SILVER HAVE DECLINEDBitcoin has maintained its upward trend after the elections, surpassing the $85,000 level for the first time in its history. The leading cryptocurrency, Bitcoin, broke the $80,000 resistance it tested over the weekend on Sunday evening, stepping into a new era. In the early hours of Monday morning, Bitcoin surpassed the $82,000 barrier, and with the North American markets coming into play, it accelerated its rise. The cryptocurrency climbed to $84,440 in the afternoon, setting a new record. According to the latest data, Bitcoin is currently trading at $88,412.20. Bitcoin, which has shown remarkable performance since the beginning of the year, started 2024 at the level of $42,378.396. The cryptocurrency's return within the year has reached 100.5%, bringing smiles to its investors. On the precious metals front, however, the picture has turned upside down. Gold was trading around $2,600 on Monday morning, but in the latest transactions, it has declined to $2,615.25. This drop indicates a daily loss of 2.57%. Silver followed a similar trend, falling below $31 and dropping to $30.449. In the spot market, silver is trading at $30.515 per ounce, with a decrease of 2.42%. Experienced strategist Mike McGlone predicts that in the short term, stocks and Bitcoin will perform better compared to gold. McGlone also stated that investors should be cautious as these assets may be overvalued.
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