The Old Standard: Why Gold Is Beating Bitcoin Mu 2022

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Wed, Kubvumbi 27, 2022 11:59 PM

The Old Standard: Why Gold Is Beating Bitcoin Mu 2022

Bitcoin continues to underperform as a general “risk-off” sentiment has investors driving toward gold as a safe haven asset.

Kunetseka pamusoro pehondo yeRussia-Ukrainian inopfuurira. Inflation yeUS inonetsekana pamakumi mana emakore akakwira uye kutya kweFed kukwira kuri kuitika. Kusagadzikana uku kunosvika kuhupfumi hwenyika sezvo kuderera kwehupfumi kuri kutarisirwa pachinzvimbo chekuti kugadzirike. Maneja director weIMF, Kristalina Georgieva, akazvidaidza kuti "dambudziko riri pamusoro pedambudziko."

“The war is a supply shock that reduces economic output and raises prices. Indeed, we forecast inflation will accelerate to 5.5 percent in advanced economies and to 9.3 percent in emerging European economies excluding Russia, Turkey, and Ukraine. ” The IMF stated last week.

Reuters recently quoted Commerzbank analyst Daniel Briesemann, who talked in a note about the factors that have “lent buoyancy to gold in recent days,” mentioning the “strong buying interest on the part of ETF (Exchange Traded Fund) investors” and news about the Ukraine war.

"Russia inoratidzika kunge iri kugadzirira kutanga kurwisa kukuru kumabvazuva kwenyika - izvo zviri kupa kudiwa kukuru kwegoridhe senzvimbo yakachengeteka," muongorori akadaro.

Izvi zvinopfupisa manzwiro e "ngozi-off" panguva ino. Sezvinotarisirwa, equities inotambura sezvo vanoisa mari vari kutengesa zvinhu zvine njodzi uye vachitenga izvo zvine chekuita nemusika wechinyakare. Nekudaro, iyo crypto nzvimbo iri kunetsekana padivi pemusika wemasheya uye goridhe riri kusimuka.

Data from Arcane Research’s latest weekly report notes that it has been a gloomy year for the “digital gold.” In the first three weeks of 2022, Bitcoin sank 25% and it is still down by 18% in the year despite its slight recovery.

Similarly, Nasdaq records a 19% decline in the year, having underperformed against bitcoin “by a small margin,” notes the report, adding that “This is surprising given that bitcoin has tended to follow Nasdaq, albeit with higher volatility.”

Kutya kwakawanda pamusoro pekusagadzikana kwegeopolitical uye macroeconomic kwakapa goridhe nzvimbo yakachengeteka yeasethi inotariswa zvakare. Iyo asset yakapfuura mamwe ese ma indexes anoonekwa pazasi aine 4%.

Zvichakadaro, musika wemari uri kuita "nenzira dzakafanana dzengozi." Dhora rave kuratidza hutongi hwayo hwe "ngozi-off" sezvo iyo US Dollar Index (DXY) iri kumusoro 7%. Iyo Chinese yuan yatora danho pamusoro pekunetsekana nezve "zero-covid" mutemo wenyika - uyo unogadzira nyaya kune yepasirese yekugovera cheni- uye kudzikira kwehupfumi hweChina. Mukupesana, vatengesi vanga vachimhanya kuUS Dollar kuti vachengetedzeke.

Bitcoin supporters usually refer to the coin as “digital gold” alleging it is a safe haven asset, and this narrative had held well while BTC had been “uncorrelated with most other major asset classes,” but the tide is shifting with the 2022 scenario as investors are rather placing the coin “into the risk-on basket”.

A previous Arcane Research report indicated that bitcoin’s 30 -day correlation with the Nasdaq is revisiting July 2020 highs while its correlation with gold has reached all-time lows.

A pseudonym traded noted that “As Bitcoin adoption goes on and more institutional investors enter the market, the correlation of BTC and stocks becomes more and more tight. That is a paradigm that the crypto world struggled to come to terms with in the past but is now more real than ever. A healthy stock market is good for Bitcoin. "

Zvichakadaro, manzwiro evashambadziri anoita seasina kusimba, nevazhinji vachiti mari yacho inogona kushanyira iyo $30k level munguva pfupi.

Original source: NhauBTC