Using the pax g token price predictions to trade gold and BTC
I’m surpised to see that the price predicition on Pax g changed completely recently. And considering the strong correlation between gold and BTC I wonder why the price prediction of Btc is still qite bullish. Did I miss some big news about Gold. Or are gold and BTC decorrelated already?
@FleckingerP my take on it is that while correlation between BTC and gold (and therefore also PAXG) might be high that doesn’t mean they have the same near future potential.
In the chart below the lines are not trend lines per se but just connecting opening price in Jan 2020 to today to show the relative rise between the two. BTC’s rise has been far more bullish, especially recently, and has been far more volatile over the year so far. These might be reasons why you are seeing a difference.