Here is where the crypto market stands: Bitcoin gained 3.8% over the past week, ending around $21.4K, dropping slightly to $21.2K on Monday morning.Ethereum added 9.4%, while other top-ten altcoins gained between 4.6% ( Cardano ) and 19.3% ( Dogecoin ).The total capitalization of the crypto market, according to CoinMarketCap, rose 8% over the week to $952bn.The Bitcoin Dominance Index slipped 0.9 points to 43.4% over the same period due to the outperforming recovery of altcoins.
Gary Gensler, head of the US Securities and Exchange Commission (SEC), is pushing for a single set of rules for cryptocurrencies that would bring together all regulators and strengthen industry regulation.
Cardano co-founder Charles Hoskinson told the US Congress that the SEC and CFTC would not be able to handle oversight of the cryptocurrency industry.In his view, it could self-regulate along the lines of the banking industry.As we remain hopeful, let’s take a look back at how Bitcoin Gold (BTG) came into existence.
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.
Big players monopolized the BTG network and disadvantaged participants who could not afford powerful and faster ASICs; this caused an imbalance of power.
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.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.
Today’s Bitcoin Gold price is $17.43 USD with a 24-hour trading volume of $7,956,464.Bitcoin Gold is down 1.45% in the last 24 hours.The current CoinMarketCap ranking is #101, with a live market cap of $305,295,982.It has a circulating supply of 17,513,924 BTG coins and a max.supply of 21,000,000 BTG coins.
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[5 Bitcoin Gold Price Predictions by Authority Sites]
What is Bitcoin Gold (BTG)?
Bitcoin Gold (BTG) was launched in 2017 as a user-friendly Bitcoin alternative by co-founders areHang Yin, Martin Kuvandzhiev, and Franco Niebles.The blockchain -based platform is an open-source digital currency with Bitcoin (BTC) fundamentals, aimed at mitigating the scalability concerns of BTC and decentralizing the mining sector.
In effect, BTG is a hard fork (spin-off) of existing blocks of the BTC blockchain .
The Bitcoin Gold blockchain is driven by a proof of work (POW) algorithm known as Equihash or Zhash.
Bitcoin Gold has fulfilled some of its aims by offering complete anonymity and significantly improving processing times compared to what we have with Bitcoin.Bitcoin Gold (BTG) can be mined on regular GPUs rather than the expensive and sophisticated ASICs with the hard fork.
The coin’s development team kicked off with six members in 2017 and now boasts a mix of 20+ international members with varied skills and backgrounds.Also, the administration and development of the BTG blockchain are conferred on the board and members of the community.
Bitcoin Gold (BTG) functions independent of centralized monetary policies or restrictions by banks, federal reserves, or other financial bodies as a digital asset.
BTG Overview
Bitcoin Gold Overview
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|BTG||$ 21.19||$ 371.62 M||6.87%||17.51 M||$ 19.85 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
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 at 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.
BTG Analysis by Technical Indicators
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 timeframes 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.
Bitcoin Gold Technical Analysis
Over a 4-hour period, Bitcoin Gold’s technical analysis points to a strong buy signal, with 12 buy indicators, 2 sell indicators, and 1 neutral indicator.
The Relative Strength Index of the coin is at over 60, meaning that it’s approaching the overbought region, and the current trend could continue in the short term.
Bitcoin Gold Price Predictions by Authority Sites
Wallet Investor
Over the next twelve months, Wallet Investor forecasts Bitcoin Gold’s value could drop drastically from $17.745 to $1.044, describing the token as an unfavorable option for long-term investors.Based on the technical analysis by the crypto forecast website, their predictions also indicate an imminent devaluation of BTG from the current market price to $11.928 in the coming days.
Gov.Capital
According to a one-year projection by Gov.Capital, Bitcoin Gold is expected to lose over 75% of its current value, continuing its bearish trend.For this reason, BTG is not recommended as a profitable addition to your portfolio in the near future.
TradingBeasts
TradingBeasts expects the Bitcoin Gold market to maintain its bearish trend till July 2023, with the market prices anticipated to be between $12.300 – $18.088, while the average trading price would be at $14.471.
Over the remaining months in 2023, they forecast a market reversal, increasing BTG’s maximum price to $26.033 by the end of the year.
By July 2024, Bitcoin Gold is expected to have a market price range of $22.846 – $33.597, according to TradingBeasts.This bull market could continue till the end of the year 2024, leading to BTG’s highest and lowest market prices reaching $38.591 and $26.242 by January 2025.
In the course of 2025, TradingBeasts anticipates a continuous rise in BTG’s value to a maximum price of $45.719, a minimum price of $31.089, and an average market value of $36.576 by the end of the year.
Cryptopolitan
Bitcoin Gold Price Prediction 2022
Over the past months, Bitcoin Gold has experienced a downtrend along with several other cryptocurrencies in the market.However, there has been a price recovery of about 13.98% in the past week, and we expect the Bitcoin hard fork to make further gains towards the end of the year.
Our Bitcoin Gold Price Prediction for 2022 anticipates a maximum price of $25.15 and a minimum price of $21.66.The average trading price is expected to be $23.32.
Bitcoin Gold BTG Price Prediction 2023
In 2023, we foresee Bitcoin Gold maintaining a bull market.As per our Bitcoin Gold Price Prediction, the expected average market value of the coin is $25.95, with its highest and lowest market prices at $28.33 and $23.42, respectively.
Bitcoin Gold BTG Price Prediction 2024
According to our Bitcoin Gold price forecast for 2024, BTG is predicted to experience a surge in price to reach a maximum of $31.46.Its minimum trading price is anticipated to be $21.88.
An average price of $27.36 would follow these figures.
Bitcoin Gold BTG Price Prediction 2025
As per our Bitcoin Gold price predictions for 2025, we anticipate a maximum price of $37.05 and an average trading value of $34.31.
During this period, we expect the least possible price to be $30.56.
Bitcoin Gold BTG Price Prediction 2026
Our Bitcoin Gold price prediction for 2026 indicates a pullback in maximum and minimum trading prices to $35.51 and $28.84, respectively.
Bitcoin Gold BTG Price Prediction 2027
The price pullback in 2026 could be a good entry point for investors, as we expect a boost in the Bitcoin Gold maximum price to $47.70 by 2027.
Bitcoin Gold BTG Price Prediction 2028
By 2028, our experts expect the BTG token to trade at a mean value of $56.47, representing over a 41% increase in its average trading price from 2027.
Bitcoin Gold BTG Price Prediction 2029
For 2029, we anticipate the highest possible price of Bitcoin Gold to be $75.46.
Bitcoin Gold BTG Price Prediction 2030
By 2030, the bullish trend should continue, resulting in a maximum market value of $84.19 and a minimum market value of $78.47.
Bitcoin Gold BTG Price Prediction 2031
According to our predictions, Bitcoin Gold could be trading at a high market price of $95.66 in 2031.This would equal a 439% increase from the current market value.Therefore, today’s $1000 worth of Bitcoin Gold could become $5,390 in 2031.
Final Thoughts
Bitcoin Gold (BTG) is not the most popular coin for massive price jumps.
However, its fundamentals and innovative features are pretty solid – meaning that it can still be a profitable investment over time.
The stated purpose of the hard fork is to change the Proof of Work algorithm so that ASICs (Application-Specific Integrated Circuits) which are used to mine Bitcoin cannot be used to mine the Bitcoin Gold blockchain in the hopes that enabling mining on commonly available graphics cards will democratize and decentralize the mining and distribution of the cryptocurrency.
Before investing in Bitcoin Gold, ensure that you dot the Is and cross the Ts to avoid making the wrong investment decision.Our BTG price forecasts are optimistic but not definitive and should not be taken as investment advice.Always do your own research..
