The introduction of Bitcoin (BTC) in January 2009 came with the proposition that mining the coin would be available to all and sundry, and this appeared to be the status quo for some time.However, as the value of Bitcoin steadily climbed up the charts, its mining appeal began to skyrocket, and competition soon increased.Two products of this competition include Bitcoin Gold and Bitcoin Cash .
Bitcoin mining came with more challenges, and it became clear that only custom-built equipment (ASICs) can efficiently mine the coin.An unbalance of power soon erupted, and big players wielded power over the cryptocurrency’s network, monopolized the industry, and disadvantaged participants who could not afford powerful and faster ASICs.
Due to the turn of events, miners and developers on the Bitcoin network determined that a shift of power was necessary.That decision eventually resulted in Bitcoin Gold (BTG) , as we know it today.
Bitcoin Gold (BTG) was launched in 2017 as a user-friendly Bitcoin alternative.
In this Bitcoin Gold price prediction , we’ll examine the price history of the digital asset, technical analysis, and BTG/USD predictions for the years ahead.
What is Bitcoin Gold (BTG)?
Bitcoin Gold (BTG) co-founded Hang Yin, Martin Kuvandzhiev, and Franco Niebles.It is an open-source digital currency with Bitcoin (BTC) fundamentals, aimed at mitigating the scalability concerns of BTC and decentralizing the mining sector.
In effect, BTG is a hard fork (spin-off) of existing blocks of the BTC blockchain .
The Bitcoin Gold blockchain is driven by a proof of work (POW) algorithm known as Equihash or Zhash.
Bitcoin Gold has fulfilled some of its aims by offering complete anonymity and significantly improving processing times compared to what we have with Bitcoin.Thanks to the hard fork, Bitcoin Gold (BTG) can be mined on regular GPUs rather than the expensive and sophisticated ASICs.
The coin’s development team kicked off with six members in 2017 and now boasts a mix of 20+ international members with varied skills and backgrounds.Also, the administration and development of the BTG blockchain are conferred on the board and members of the community.
Bitcoin Gold (BTG) functions independent of centralized monetary policies or restrictions by banks, federal reserves, or other financial bodies as a digital asset.
BTG Overview
Bitcoin Gold Overview
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|BTG||$ 41.67||$ 730.35 M||7.45%||17.51 M||$ 183.44 M|
As of this writing, the price of BTG has consistently allowed it to retain a spot among the regular top 100 coins by market cap on both CoinMarket cap and Coingecko rankings.Today, the Bitcoin Gold token is ranked at position #122 on the Coinmarket cap and has a total market cap of $638,249,466.12, which is a significant reduction from last year’s market cap.
The reduction can be attributed to the current bearish sentiment that has engulfed the crypto market, causing a significant drop in the trading prices of most tokens.However, the market has begun to recover, and BTG has recorded a 2.75% growth in price within the last 24 hours.
With a market dominance of 0.03%, the cryptocurrency currently trades at $36.42%, with an average daily trading volume of $41,003,908.44
What are some BTG use cases?
BTG can have several applications, including the following
– Settlement for trades – buy, sell, swaps, etc.
– An instrument of investment in crypto marketplaces
– An independent payment enabler like other digital assets
– Computing technology
– Open-source bridges
– Smart contracts
– Payment methods
The various use cases of this digital asset across multiple platforms have led to a steady increase in Bitcoin Gold’s (BTG) value.
How to buy and sell Bitcoin Gold (BTG)
Like Bitcoin, Bitcoin SV, and other coins, Bitcoin Gold (BTG) can be purchased or sold on cryptocurrency platforms that support the ecosystem.You can also swap/sell BTC for BTG on a Bitcoin exchange.
Here’s how to buy Bitcoin Gold:
– Look for a secure cryptocurrency exchange.
– Set up an account.
– Provide identification and payment details where necessary.
– Fulfill KYC requirements.
– Determine the amount of coin you want to buy, confirm the exchange rates, and buy Bitcoin Gold.
– If you prefer hardware wallets over digital wallets, that option is available too.
Here’s how to sell Bitcoin Gold:
– Ensure that you already have your Bitcoin Gold coin in your wallet.
– Visit any secure crypto platform with support for BTG, and type in your sell amount.
– If the rates work for you, sell your Bitcoin Gold.
– If you’re selling for another digital asset, ensure that the receiving address is secure.
Bitcoin Gold price history and technical analysis
From historical data, Bitcoin Gold (BTG) coin price was initially valued at over $500, and it hit an all-time high (ATH) of $539.72 on 23 October 2017.
However, the price fell rapidly below $200 in a short period but hit another high of $509 on 11 November 2017.
Bitcoin Gold spent the remainder of 2017 trying to retrace the $500 mark.The price retracement continued in the first few days of 2018, but the market eventually lost its momentum around $158 at the end of January 2018.
In March 2018, BTG’s value fell below the $100 mark, and the bearish movement spanned the whole of the year 2019.On 3 January 2020, Bitcoin Gold plummeted to a new minimum price of $5.02 and attained an all-time low of $4.25 in March 2020.
The significant price dips experienced between 2018 to 2020 could be attributed to repeated malware attacks on the coin’s ecosystem.
At the start of the year 2021, the price of Bitcoin Gold (BTG) hovered around the $8 mark.In the middle of February, the dynamics favored Bitcoin Gold, and its price showed signs of massive recovery by rising to $168.19 in May.
In the 4-hour chart, it is clear that the price of Bitcoin Gold is trading above the 50-day and below the 100-day Moving Averages.Along with this, the price movement is upwards, trying to break through the upper end of the Bollinger Band.Following the rise of Bitcoin, Bitcoin gold price is also rising.
As of this writing, in Jan 2022, the price of BTG has significantly increased since then.
The cryptocurrency has maintained an impressive bullish momentum that has seen the prices recover from their worst hits between 2018 and 2020.So far, the coin has gained immensely and is currently trading around the $35 mark.
A fast and easy way to analyze Cryptocurrencies
Technical analysis gauges display real-time ratings for the selected timeframes.The summary for Bitcoin Gold / US Dollar (calculated by TradingView) is based on the most popular technical indicators — Moving Averages, Oscillators, and Pivots.
Results are available at a glance.The gauges show a neutral indication for BTG.
The Bitcoin Gold token is poised to continue upward when the bulls overcome the bears.As per the price predictions, the switch will happen soon, and the BTG holders, alongside other crypto holders, will resume the bullish momentum.
Detailed technical analysis show trends and overbought/oversold signals simply and efficiently.
Indicators values for all time-frames offer you an excellent overview of the market.
In an attempt to determine the future price of BTG based on the current price of Bitcoin Gold and historical price action, we analyze some of the current price predictions by Industry experts to provide a more wholist view of the price forecast of Bitcoin gold.
BTG price prediction by Wallet Investor
Wallet Investor’s price prognosis of the Bitcoin hard-fork project Bitcoin Gold appears to be optimistic over the next few years.The platform implies that the crypto coin is stable, and significant upward price movements should be anticipated from the beginning of 2022 to 2027 and beyond.
As per their predictions, the BTG cryptocurrency is projected to increase immensely in one year.The one-year price forecast for the token indicated that it could trade at an average market price of $75.696.These predictions indicate an impressive price increase within one year, encouraging BTG holders to continue HODLing.
Similarly, the token’s more extended price prognosis indicates even more stunning results within five years.
Per the Wallet Investor price prediction for 5 years, the cryptocurrency price can record a favorable price of 542.16% to trade at an average market price of $642.16 in 2027.
BTG price prediction by TradingBeasts
Image courtesy of Tradingview
The analysis on TraddingBeasts shows that Bitcoin Gold is set to undergo a bull run in 2022, moving forward.The expert predictions show that the token’s price will rise steadily over the years, signaling a good time to buy BTG now.
According to TradingBeasts, the BTG token will trade at a maximum market price of $ 38.478 by January 2023.Similarly, the token is poised to achieve even more growth over the years, as it is projected to trade at a minimum market price of $61.54 and a maximum market price of $90.5 by December 2025.On average, the BTG cryptocurrency is forecasted to trade at an average value of $72.4 in 2025.
Image courtesy of Tradingview
In 2022, the general price analysis suggests a slight increase in price throughout the year.However, since the year has begun with a bearish trend on the crypto market, there are speculations that most tokens will experience a decline in prices before the prices of the coins begin to pick up.
The analysis shows that the long-term trend of the Bitcoin Gold token is undoubtedly bullish; however, the short-term trend could be bearish for a while, which is quite typical of cryptocurrencies.
According to the price analysis and price projections for 2022, the BTG token is expected to trade at an average price of $35.8 in mid-year, and the prices might decline even further to an average price of $32 in December 2022.
In 2023, the BTG cryptocurrency is forecasted to start regaining towards the end of the year.As per the smart technical analysis, the prices may continue downward for the better part of the year, with slow but momentous rejuvenation expected in September 2023.
According to these future prices, the cryptocurrency is projected to trade at an average price of $37.174, which indicates a 1% increase from the current price as of this writing.
However, moving forward, the bullish trend is set to continue steadily to see BTG trade at a minimum market price of $36.476 and a maximum expected price of $53.640 by December 2023.The token is forecasted to trade at an average market price of $42.912 around the same time.
Arguably, 2024 is predicted to be an entirely bullish year for Bitcoin Gold, considering the last Bitcoin gold price drop.
Technical analysis indicates that the cryptocurrency may experience an impressive bullish momentum that will see the token trade at a minimum and maximum price of $51.137 and $75.202 by December 2024, recording a significantly positive price change of 63.97 % based on BTG price today.
Image courtesy of Tradingview
Good news for long-term Bitcoin gold holders as the price predictions for the cryptocurrency continues to be bullish.
The analysts predict that the upward trend in price action will continue throughout 2025, with significant positive percentage price changes.
As per the information derived from extensive analysis of the historical price action of Bitcoin Gold, the crypto coin is expected to trade at a minimum value of $61.540 and a maximum value of $90.500 by December 2025.Notably, the average expected price of Bitcoin Gold in 2025 is $ 72.400, which translates to a 97.33% price growth from today’s market price.
BTG price prediction by CoinPriceForecast
According to the latest long-term forecast, Bitcoin Gold’s price will hit $50 by the end of 2022 and then $75 by the middle of 2026.Bitcoin Gold will rise to $100 within the year 2028.
BTG price prediction by DigitalCoin
Whether BTG is a good investment or not, the true answer lies with the investors’ perspectives, and of course, market sentiments.As with every other cryptocurrency, highs and lows are expected with Bitcoin Gold (BTG).The exchange rate of this coin against traditional currencies has been bearish in the past month, but a more favorable market movement is expected before the end of 2021.
However, based on data and predictions, it can be said that Bitcoin Gold offers massive prospects in the long term (5+ years) and should provide good returns on investment.
Digital Coin Bitcoin Gold price prediction states that the price of the coin will reach $316.88 by 2028
Final verdict on BTG
As already established, Bitcoin Gold launched in 2017, and it is a hard fork of the original Bitcoin blockchain.In the past four years, it has garnered a lot of market momentum and has continued to fulfill some of its key mandates.
BTG has successfully decentralized cryptocurrency mining by introducing the Equihash consensus algorithm that lets ordinary miners generate more BTG coins using GPUs.It offers improved scalability, enhanced processing time, and replay protection.
Bitcoin Gold is a valuable tool for swift global payments, open-sources bridges, investments, research, and smart contracts.As indicated in its official roadmap, developers aim to make BTG a standalone digital asset, but the exact details are not yet known.
The variety of applications of this cryptocurrency underscores its potentials for the future.It is, therefore, expected to gain more popularity, and of course, increase in price in the coming years.
Good news for long-term Bitcoin gold holders as the price predictions for the cryptocurrency continues to be bullish.The analysts predict that the upward trend in price action will continue throughout 2025, with significant positive percentage price changes.
As per the information derived from extensive analysis of the historical price action of Bitcoin Gold, the crypto coin is expected to trade at a minimum value of $61.540 and a maximum value of $90.500 by December 2025.Notably, the average expected price of Bitcoin Gold in 2025 is $ 72.400, which translates to a 97.33% price growth from today’s market price.
FAQs
What is the worth of Bitcoin Gold?
Bitcoin Gold trades at an average market price of $36.Over the last 24 hours, the price of BTG has grown by 2.94%, showing intent for bulls to overcome the bears.
The coin has an average trading volume of $14,003,908.44, down nearly 50% in the last 24hrs.With an overall crypto market dominance of 0.03%, BTG is currently ranked at #122 by market cap on CoinMarket Cap.
Is Bitcoin Gold a profitable investment in 2022?
Price analysis for the short term period undoubtedly indicates that BTG is not a profitable investment for the short term.The price fluctuations are expected to continue in both directions.Although some predictions are pretty optimistic about the positive change of BTG price, it is prudent to approach BTG with caution in 2022.
Will Bitcoin Gold (BTG) reach $170?
Given that the coin is currently trading at about $36, it will require a four times increase in price to reach the $170 mark.On 6 May 2021, the value of BTG rose to $168.19, and experts are forecasting a bullish price action in the future, as seen from the Bitcoin Gold price prediction.The highest price projection is by CoinPriceForecast at $136.22 or in another 10 years at the least, for a 268% increase.
Cryptocurrency investments are profitable but highly speculative and very risky.A coin could hit a new high price and lose all its gains in the next minute.Hence, always consult with professionals before investing.
Can Bitcoin Gold reach $500 again?
The long-term Bitcoin Gold price prediction shows that the coin offers massive prospects.
However, this is not 100% guaranteed, but speculations are subject to several instruments that will unfold with time.If we go by the long-term Bitcoin Gold forecast, it will hit $500 over the next few years.
Remember, this is a forecast and not a piece of investment advice.
What is the difference between Bitcoin (BTC) and Bitcoin Gold (BTG)?
Like Bitcoin Cash (BCH), Bitcoin Gold is a spin-off of Bitcoin; it utilizes the POW algorithm.While Bitcoin and Bitcoin Cash use the SHA-256 algorithm, Bitcoin Gold leverages the Equihash-BTG algorithm.Another element that differentiates these two coins is their mining mechanism.
Bitcoin miners use specialty ASIC hardware, while Bitcoin Gold miners use GPU-based hardware.
How high could Bitcoin Gold go in 2030?
Based on Bitcoin Gold price prediction, we expect the coin to rise to $400 by 2030.Depending on several factors, a higher price target could be reached or not.
Will Bitcoin Gold price overtake Bitcoin price?
Whether or not BTG price will overtake BTC price cannot be determined, as there are several factors to consider for such a price forecast.However, you can check out our comprehensive Bitcoin forecast.
Is Bitcoin Gold price forecast always accurate?
There is no 100% guarantee that the actual price dynamics of BTG will follow a forecast or any particular approach.However, a price forecast provides extensive market insight into a coin of interest.
Disclaimer.
The information provided is not trading advice.Cryptopolitan.com holds no liability for any investments made based on the information provided on this page.
We strongly recommend independent research and consultation with a qualified professional before making any investment decisions.
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