Rise Sentiment Made A Return To The Gold Side Due To Bitcoin’s Poor Performance!

• – With the bullish sentiment coming to the forefront of bitcoin, it is emerging among retail investors in the gold market by providing the return of Bitcoin (BTC) to the market in 2022 after five months of strong performance by gold.
• – How the two markets have performed together with their variability is among the reviews. It is expected and seems to be a difficult year for bitcoin users, who see their wealth cut in US dollars, especially with bitcoin’s poor performance.

In addition, as these situations progress, perhaps even worse, the normally cautious and risk-averse gold investors have started to get much better returns on their investments at the same time.

With data varying depending on which data source is used, gold is asserting itself by returning around 2% so far in 2022 as of Thursday, according to reviews. Also, with this return of gold, a very variable drive has taken place. Still, it was also compared to a 35% loss for BTC traders as the positive performance stood out. But especially according to the data seen in January and May of this year, it is compared to the lion’s share of BTC losses.

They appear to be early signs of a “new rally” for gold, according to Spectrum Markets, a well-known European derivatives trading hub. It also appears to be in a position to qualify for detection in late May, as aid from a weaker US dollar and euro progresses.

Michael Hall stated the following in his thoughts on this situation and shared his comments. There was a bearish period in May, which showed that the gold price fell below 1,800 USD on the 16th of the month. After this period of severe decline, the gold price has asserted itself, supported by both the dollar and the euro going through a weak phase. There is also a start that looks like a fresh rally in the last few days of the month.

Michael Hall also reveals that both the US Federal Reserve (Fed) and the European Central Bank (ECB) are facing high inflation. In addition, he also took part in the agenda by noting that they are also trying to deal with several other economic problems, including supply chain bottlenecks.

Hall’s statements also touched upon the following issues: “When the macroeconomic background comes to the fore, investors need to make haven allocations. However, it is not surprising to see that they want to take advantage of the decline in the gold price.

• – With the increase in comments, a sentiment index is known as SERIX also shows that sentiment towards gold among retail investors has increased. Therefore, there are many situations related to sensitivities on this issue.
• – According to Spectrum Markets, sentiment seems to have reached its lowest level in February of this year with the emergence of SERIX data. It has also continued to rise steadily since then. With this situation, it will move forward by reaching 116, the highest level of a year, in May. For comparison, the same sentiment index for the S&P 500 stock index stands at 100. In addition, the German DAX 40 index seems to have 99 sentiments.

• – An index reading of 100 is considered neutral in SERIX. Anything higher is also known as bullish and anything lower is known as bearish.