As a crypto asset backed by real gold, is it time to put some money in PAXG in case of the upcoming big recession ?
Well to answer that, YES and NO...
1. We don't know when will the recession comes
2. We don't know whether it will come or not (LOL)
But still, it's better to be safe rather to be sorry!!!!
My entry price point would probably be in the fibonacci retracement level (fib box)...
As I still believe the bull or this cycle economic hype isn't over yet, I am waiting for a better entry point before putting my money on gold or crypto backed by gold!!!
Yes it can certainly goes way more down before we found a bottom in case the economic bull is too strong... but interesting thing to keep in mind is that, we have a strong red line that has ben perfectly tested 3 times... I have put a green marker on it!!!
So with this in mind, scaling in into gold backed asset would probably a good idea as to minimize your risk...
Still, this is just my speculation, and gold could also soar high from this point and we don't see any retracement especially as many investment company or retail investor are now looking at gold...
#NotFinancialAdvise
#PersonalView
Well to answer that, YES and NO...
1. We don't know when will the recession comes
2. We don't know whether it will come or not (LOL)
But still, it's better to be safe rather to be sorry!!!!
My entry price point would probably be in the fibonacci retracement level (fib box)...
As I still believe the bull or this cycle economic hype isn't over yet, I am waiting for a better entry point before putting my money on gold or crypto backed by gold!!!
Yes it can certainly goes way more down before we found a bottom in case the economic bull is too strong... but interesting thing to keep in mind is that, we have a strong red line that has ben perfectly tested 3 times... I have put a green marker on it!!!
So with this in mind, scaling in into gold backed asset would probably a good idea as to minimize your risk...
Still, this is just my speculation, and gold could also soar high from this point and we don't see any retracement especially as many investment company or retail investor are now looking at gold...
#NotFinancialAdvise
#PersonalView