Bitcoin Gold Price Prediction – Is BTG good investment
Bitcoin Gold was created from Bitcoin in 2017 with the goal of enhancing the main BTC protocol. But what is Bitcoin Gold’s growth potential? What do experts say about Bitcoin Gold Price Prediction? Is it a good long-term investment? The answers to these and other questions related to Bitcoin Gold are in the following lines. Let’s first see what exactly Bitcoin Gold is.
Bitcoin Gold Overview and Price Historics
Coin Name Bitcoin Gold Ticker Symbol BTG Official Website bitcoingold.org BTG coin price today $13.49 Market cap $236,444,477 Trading volume (24h) $26,842,870 Total supply 17,513,924 BTG Max. supply 21,000,000 BTG Fully diluted market cap $283,355,061 All-Time High price of BTG $539.72 (On October 23, 2017) All time low BTG price $4.25 March 2020 Trading Exchanges Bithumb, Bitfinex, EXMO, OKX, Gate.io, Bybit.Wallet Trust Wallet, MetaMask.
The story of Bitcoin Gold begins on October 24, 2017, during a hard fork on the Bitcoin network. While euphoria reached its peak in the market, several areas of contention resurfaced within the Bitcoin community.
The second new branch of Bitcoin, after Bitcoin Cash, is supported by a team made up of around twenty people around the world, headed by Jack Liao, Martin Kuvandzhiev, Robert Kuhne, Franco Niebles and Alejandro Regojo. The rest acted behind pseudonyms. They may never be known.
After its implementation, Bitcoin Gold faced several criticisms. First, during the launch, the developer team was accused of having mined the first 8,000 blocks, or more than 100,000 BTG, for its own profit.
On May 18, 2018, Bitcoin Gold was the victim of an attack. During this tragedy, 388,201 BTG were stolen from the exchange platforms: Bitcoin Gold was delisted from the Bittrex exchange platform.
In January 2020, the Bitcoin gold blockchain once again suffered a series of 51% attacks on its tokens. The latter caused a double expenditure of nearly 7,167 BTG or $72,000.
What is Bitcoin Gold? What is its purpose?
Bitcoin Gold is very close to Bitcoin and has the same use cases. It allows peer-to-peer payments to be made by eliminating the need for a trusted third party.
In addition, the Bitcoin Gold protocol promotes the decentralization of the mining process by establishing a network that allows only basic computing devices to become a miner, which is different from Bitcoin, which requires monstrous computing power.
Bitcoin Gold Price Prediction 2023 – 2050
Year Maximum Price Average Price Minimum Price
2023 $28.59 $25.23 $21.86
2024 $44.57 $40.36 $37.84
2025 $61.39 $57.69 $53.82
2026 $77.37 $74.34 $69.80
2027 $93.35 $89.98 $85.78
2028 $110.17 $105.96 $101.76
2029 $126.15 $122.78 $117.74
2030 $142.12 $137.92 $133.71
2035 $209.40 $206.04 $200.15
2040 $420.66 $412.09 $401.15
2050 $883.05 $857.82 $820.81
Bitcoin gold (BTG) blockchain: how does it work?
Bitcoin gold shares the same history, technology and consensus (Proof of Work) as Bitcoin. The network is secured by nodes (computers) that solve complex mathematical problems to defend the protocol from computer attacks. It is this same process that allows transactions to be validated.
When Bitcoin launched in 2009, it was possible to validate blocks using a simple computer. However, as more miners joined the network, the computational difficulty exploded and made the mining process less accessible, especially to the less fortunate.
Today, you need to obtain high-end computer equipment specially dedicated to bitcoin mining, ASICs (Application Specific Integrated Circuits). Basic computing devices can no longer mine Bitcoin (BTC).
However, Bitcoin Gold has changed everything to make the network more scalable and accessible to everyone.
It adopted a model that needs RAM more than computing power. The hashing algorithm has been changed. Equihash is used on Bitcoin Gold instead of SHA-256 used on Bitcoin. This model makes mining resistant to ASICs and favours the use of graphics cards.
What is BTGPay?
BTGPay is a payment solution set up by Bitcoin Gold to allow merchants to easily accept payment with BTG.
Here are the benefits of accepting this digital currency for merchants:
Very low transaction fees: 1 cent per transaction.
Protection against chargebacks (cancellation of payment with financial penalties for the seller).
Customers can purchase without a credit card.
Comparison between BTC and BTG
Bitcoin Bitcoin Gold
hash type ASIC-friendly ASIC-Resistant
Block duration +/- 10 minutes +/- 10 minutes
Mining difficulty adjustment +/- 2 weeks After each block
SegWit Yes Yes
Total supply 21 million 21 million
Bitcoin Gold Price Prediction 2023 – 2030
If we look at the technical analysis for Bitcoin Gold, its minimum price is expected to reach $12.70. The maximum price in 2023 could be $15.34. The average trading price of Bitcoin Gold is expected to be around $$17.97
Bitcoin gold price prediction 2024
In 2024, Bitcoin Gold could reach the minimum level of $13.33 and a maximum of $18.76. The average price of BTG might be $24.19 in 2024.
Bitcoin Gold Price Prediction 2025
When it comes to 2025, BTG could go up to the minimum price of $36.90 and maximum price of about $45.53. The average price might be $38.31.
Bitcoin Gold Price Prediction 2026
In 2026, BTG’s minimum price could be an amazing $52.44, and the maximum price could be $64.91, according to the analysts. On average, the trading cost will be approx $54.05.
Bitcoin Gold Price Prediction 2027
According to crypto specialists, after assessing the expenses of Bitcoin Gold, it is predicted that the highest and lowest prices for BTG in 2027 will be around $$90.26 and $$76.61, respectively. The average trading price is anticipated to be approximately $$79.31.
Bitcoin Gold Price Prediction 2028
According to their forecasts, the anticipated mean value of BTG will hover at approximately $$114.12. Although there is a possibility of it declining to a minimum of $$110.16, it could potentially surge to $$131.14 by the end of 2028.
Bitcoin Gold Price Prediction 2029
It is estimated that BTG will be traded between $$164.40 and $$184.61 in 2029. Its average cost is expected at around $$167.07 during the year.
Bitcoin Gold Price Prediction 2030
In the year 2030, BTG is predicted to reach a price of $$279.23. However, its rate might drop to around $$243.73. So, the expected average trading price is $$250.48.
How to buy Bitcoin Gold?
The purchasing methods are the same as obtaining BTC. To obtain BTG, it is possible to go through an exchange platform, either participate in securing the network and receive a reward or use an online faucet.
Going through a broker is the most suitable method for obtaining cryptocurrencies. Several online brokers allow you to invest in Bitcoin Gold. This is the case with Capital.com. Additionally, it is important to differentiate between the types of brokers available on the market.
Traditional brokers or CFD brokers: these are exchange platforms that allow you to invest in an asset via derivative products like CFDs (for Contracts for Difference). The latter offers to speculate on the price of an asset without actually owning it.
Specialized brokers: these are exchange platforms specializing in crypto investment.
They allow users to exchange fiat currency for cryptocurrencies or cryptocurrencies with each other and provide the possibility of withdrawing them to an external wallet. The most prominent examples of these types of brokers are Binance, Bithumb, Bitfinex, etc.
Can we mine Bitcoin gold (BTG)?
Just like Bitcoin, it is possible to mine Bitcoin Gold. The total supply of Bitcoin Gold is limited to 21,000,000 tokens. According to the coinmarketcap site, 17,513,924 coins have already been mined at present.
Bitcoin Gold uses proof of work as consensus. However, its Equihash hashing algorithm discourages the use of ASICs in favour of graphics processing units (GPUs) to validate blocks.
As in the Bitcoin protocol, Bitcoin Gold miners are rewarded for each block mined. Currently, the mining reward is 6.25 BTG or 162 euros at the current price. It is distributed to minors every 10 minutes.
How to store your Bitcoin Gold BTG?
The safest way to store Bitcoin Gold coins is to use a hardware wallet. These are electronic wallets in the form of USB keys. The 2 best-known are the Ledger Nano S and the TREZOR.
Since Bitcoin Gold is not an ERC-20 token, it is not possible to store your BTG on wallets such as MyEtherWallet (MEW).
In addition, you can also deposit your BTG coins on the storage wallet specially created by the development team: the Bitcoin Gold Core Wallet.
Bitcoin Gold Price Prediction – In Conclusion
Bitcoin Gold (BTG) isn’t famous for significant price movements. But it is known for its innovative features and robust technical base. Although it has less mooning potential than other coins and tokens, BTG can still definitely be a profitable investment.
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