- Did you ever notice that BTC and PaxGold/BTC have a perpetual inverted correlation ?
- All Pax Gold tokens are backed 1:1 by ounces of London Good Delivery bars held in Brink's vaults.
- Allocated gold-backed PAX Gold tokens are protected both in the vault facilities and in transit. Availability of FDIC Insurance for Stablecoin Reserves.
- PaxGold acts as store of value when BTC dip.
- Some Whales don't like to switch their BTC to stable coins. - So they just turn on PaxGold when BTC crash.
- This also can be a good alternative if you don't use too heavy Leverage. - Keep 50% in BTC. - Keep 50% in PaxGold. - if you are fast enough, you could find a way to make some bucks.
PS : Don't forget that this analyze is 100% paired with BTC.
Yes, I have been watching this since the last bear market. Check out the PAXG/ ETH chart—same thing. Essentially shorting ETH or BTC by taking a long in PAXG. Seems like it could be a good hedge in future major pullbacks.
thecryer
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@MarkStPeter, ;P, you got it :P, best method and not even need to use any leverages :D, you can also doing this buy longing BTC + Longing PAXG. You can take some profits on arbitrage as BTC makes faster movements :D, just have to convert in USDT at the good time and calculate CEX fees.