A hard fork of the famous Bitcoin, Bitcoin Gold (BTG) was established in 2017 by Jack Lao, the creator of Lightning ASIC, who said that the main goal of the new cryptocurrency was to improve the initial protocol and act as a link between the fiat and digital currency worlds.
Bitcoin Gold (BTG) isn’t famous for huge price movements, but it is known for its solid technical base and innovative features. Although it has less mooning potential than other coins and tokens, Bitcoin Gold can still definitely be a profitable investment.
In this article, we will present our Bitcoin Gold price forecast for 2021 and beyond.
Bitcoin Gold Overview
The main goal of Bitcoin Gold (BTG) is to provide miners with the opportunity to mine electronic currency using GPUs instead of ASICs. This method has certain benefits, including but not limited to:
- different graphic processing units being allowed to use;
- ASIC bypass;
- the range of users who can mine Bitcoin Gold (BTG) being way wider;
- decentralized mining of cryptocurrency;
- the decrease in the influence of large companies on BTG;
- stable prospects for Bitcoin Gold;
- wide capitalization of Bitcoin Gold.
When BTG hit the market in October 2017, it was worth over $400 — there was no ICO because BTG could only be mined and bought. The founders organized the pre-mining process, which raised concerns among the crypto community: it’s not clear how many BTG coins were mined by the team.
Differences Between Bitcoin Gold and Bitcoin
|Current / Total Supply||17M / 21M BTG||18.8M / 21M BTC|
|Launch date||12 Nov 2017||9 Jan 2009|
The main benefit of Bitcoin Gold is the change in the mining algorithm: instead of SHA-256, it uses Equihash. The latter allows users with ordinary personal computers (Windows 7 and newer, with 4GB RAM min.) to mine this cryptocurrency without overloading their devices.
Bitcoin Gold has a number of undeniable advantages listed below:
- the cryptocurrency has an increased degree of security;
- the algorithm allows ordinary users to have access to mining pools — only a PC is required;
- the BTG network features enhanced code to provide better overall performance.
There’s only one thing that the team needs to address: weak protection against duplication. For this reason, various services confuse Bitcoin Gold with Bitcoin; as a result, they prohibit certain operations.
As for BTG value, the cryptocurrency is mostly interesting for miners. Its value has seriously dropped during the last year, so it’s not the best option for investment and trading. BTG price today is $10,59, which is 40 times lower than when it was introduced.
Bitcoin Gold Price Today
Bitcoin Gold Price Analysis
As we can see on the chart, Bitcoin Gold price still hasn’t managed to retake its initial highs. When it had only entered the market back in November 2017, it briefly reached the $427 mark before dropping down to the $150 price level. BTG price then skyrocketed at the end of November 2017 and once again in December of the same year, but wasn’t able to survive the massive sell-off that followed.
After that, Bitcoin Gold (BTG) price has mostly stayed in the $8-15 range up until the crypto market boom of 2021: its price started rising in February and finally managed to cross the $100 mark again in April 2021. Since then, Bitcoin Gold price has dropped to the $60 level.
Now that we’ve taken a look at its price history, let’s move on to our Bitcoin Gold price prediction!
What do traders think of BTG? Let’s see a Bitcoin Gold price prediction made by industry experts. Here’s a technical analysis from TradingView:
Investors are currently bearish on Bitcoin Gold, and there’s a clear “sell” signal, although it hasn’t become strong yet. Will Bitcoin Gold price fall in the near future? According to this BTG forecast, it is bound to happen. However, bearish market sentiment may not last long — in that case, the Bitcoin Gold price drop won’t be that drastic.
Long-term Bitcoin Gold price predictions paint a different picture: experts at Trading Beasts and Wallet Investor are expecting BTG price to hit $200 in the next 3 years, and remain at that mark for a while.
Bitcoin Gold Future Price Prediction 2021-2030
Bitcoin Gold Price Prediction By the End of 2021
Considering the fact that the current market sentiment for Bitcoin Gold is rather bearish, we do not think that its price will rise in 2021 — it is likely that we will see Bitcoin Gold (BTG) price drop in the next few months. We expect it to go down to $40 with a later rebound to its current price of $55 by the end of December 2021.
Unless something incredibly disruptive happens in the crypto industry in the remaining three months of 2021, we do not expect Bitcoin Gold to have any drastic price movements.
Bitcoin Gold Price Prediction for 2022
Bitcoin Gold seems to be slowly but surely moving back to the price level it had in 2019-2020. If this trend continues, then we can possibly see its price dropping back to the $10 level. However, this is an extremely pessimistic Bitcoin Gold (BTG) price prediction, and we think that it is currently very unlikely to happen.
Most Bitcoin Gold price forecasts expect this cryptocurrency to hit it big in 2022, but that seems a bit too optimistic. While it may hit $150 in 2022, our BTG price forecast for the next year is $110.
Bitcoin Gold Price Prediction 2023
There is a definite possibility that Bitcoin Gold may explode in 2023, and its price will hit upwards of $300. However, more conservative price predictions, like the one from Coin Price Forecast, are expecting BTG to stay in the $110-120 range in 2023.
At the same time, some experts, like the ones from Gov Capital, are predicting that Bitcoin Gold will drop below $10. While we think that this is a little too extreme, it is certainly a possibility. After all, the crypto market is extremely volatile and anything may happen — the coin nobody knew about yesterday may shoot to the moon tomorrow and then crash three days later.
Bitcoin Gold Price Prediction 2024
According to our Bitcoin Gold price forecast, this cryptocurrency has the potential to hit $330 in 2024. However, many experts are giving much more conservative predictions, and do not see BTG crossing the $200 mark in 2024.
The most optimistic Bitcoin Gold price prediction for 2024 states that BTG will hit $400, and the most bearish one is expecting it to remain in the $150-160 range. We think that the latter price forecast is a lot more likely to come true.
Bitcoin Gold Price Prediction 2025
What price can Bitcoin Gold reach in 4 years? Well, according to our price forecast, BTG has the potential to hit $400 by 2025. Due to fluctuations, its price for that year may average out to be around $300. Nevertheless, with both significant ups and downs being likely to happen, investors may have both buy and sell opportunities.
Bitcoin Gold Coin Price Prediction 2030
Long-term Bitcoin Gold price predictions are mostly optimistic: BTG is not expected to crash and burn, and become yet another shitcoin. Thanks to its amazing technical foundation and the connection to Bitcoin, this cryptocurrency is expected to perform well in the future.
As always, it is nigh impossible to predict crypto prices that far in the future. However, Bitcoin Gold seems to be a good investment, and it is likely to provide quite a lot of return by 2030.
We expect Bitcoin Gold to have an average price of $300 in 2030, with a possible maximum of $500 and a minimum of $100.
How can I invest in Bitcoin Gold?
You can buy Bitcoin Gold (BTG) on crypto exchanges like Binance or Changelly. If you want to invest in it and buy or sell Bitcoin Gold, you will need a secure and reliable crypto wallet that supports this cryptocurrency. Read more about digital wallets here.
Is BTG a good buy?
If you believe that it is the future, then you should definitely buy Bitcoin Gold. If you would like to make quick short-term profit, then it is probably not a worthwhile investment for you. On the other hand, if you are interested in making a long-term investment, then Bitcoin Gold can be a good addition to your portfolio.
Is Bitcoin Gold profitable?
Bitcoin Gold can be profitable, but it is unlikely to bring you a 1000% profit like some smaller altcoins – judging by its price movements during the early 2021 crypto boom, it doesn’t have much potential in terms of explosive growth. However, Bitcoin Gold has a very solid technical foundation and a passionate community, so it definitely has the potential to become a profitable investment.
The post Bitcoin Gold Price Prediction appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
Credit: Source Link