Gold and crypto have become popular safe-haven investments for 2024. As money worries grow, more people are using these assets to spread out their investments and protect their wealth.
This guide looks at why gold and cryptocurrencies are seen as the best safe-haven pairs and how you can use them in your investment plan.
Also Read: Gold Price: JPMorgan Predicts $2,500 Average in Q4 2024
How to Spread Your Money Across Gold and Crypto?
Why Gold Makes Sense in 2024
Gold has long been valued as a way to store wealth, especially when the economy is shaky. Recent market trends support this idea.
The chart shows that gold prices have stayed strong, hitting new highs in 2024. This rise is due to ongoing money worries and world tensions. Gold’s steadiness during market ups and downs makes it appealing for careful investors looking to spread their money.
David Rosenberg, Chief Economist and Strategist for Rosenberg Research supports this view:
“My vote would be for gold because it has thousands of years of a historical record as a store of value, has one-fifth the volatility of bitcoin, and doesn’t face the same competition risk.”
Cryptocurrency as a New Safe Haven
Bitcoin and Ethereum are becoming popular as potential safe havens. Their independent nature and limited supply appeal to investors seeking options outside traditional banking systems.
The Bitcoin chart shows how the cryptocurrency has performed in 2024. Despite big price swings, Bitcoin has stayed strong overall, attracting small and big investors looking to diversify.
Vitalik Buterin, Co-Founder of Ethereum, argues for crypto’s advantages:
“Crypto is a better bet than gold. Gold is inconvenient and difficult to use, whereas crypto offers safe storage options and ease of use in transactions.”
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Mixing Gold and Crypto in Your Investments
A balanced approach to including gold and crypto in your investments is key. Experts suggest putting 5-10% of your money in gold and 1-5% in cryptocurrencies, based on how much risk you’re comfortable with.
This plan lets you benefit from both assets while managing overall risk during uncertain times.
Essential Things for Investors to Consider
When investing in gold and crypto to spread out your money, keep these points in mind:
- Gold prices are steady, but cryptocurrencies can be very volatile.
- Changing cryptocurrency rules could impact future values.
- Proper storage is essential for both physical gold and digital assets.
The Solana chart presented above shows the potential of other cryptocurrencies. Its performance highlights the need to diversify your crypto investments.
Michael Saylor (Ex-CEO of MicroStrategy), had this to say about Bitcoin:
“Trading Bitcoin is like trading Apple, Amazon, Google, or Facebook a decade ago. The more you obsess over timing the market, the more mistakes you make. They were all technology networks that were dominant & destined to grow.”
Also Read: Gold’s 389% Leap: Time to Shine?
Gold and crypto offer unique opportunities for safe investments in 2024. We’re excited to find out how these changes will affect the market.