In order to create a user-friendly Bitcoin alternative, Bitcoin Gold was established in 2017. The BTG network intends to bring together the robustness, security, and features of the Bitcoin blockchain with the chance for experimentation and development.

With a blockchain that is quite similar to Bitcoin but without utilizing Bitcoin resources like hash power or competing for the “real Bitcoin” moniker, BTG expands and improves the crypto ecosystem. The startup wants to offer a coin that can be implemented similarly to Bitcoin while also giving DeFi and DApp developers more options to use the token.

Who Are the Bitcoin Gold Founders?

A group of enthusiasts from various backgrounds and skill sets established Bitcoin Gold. The lead developer and co-founder of Bitcoin Gold is Hang Yin. In 2015, he earned a computer science degree from Fudan University. His professional career began as soon as he received his degree. Yin started working for Google as a software engineer in late 2015. Hang Yin chose to create Bitcoin Gold after spending three years working for the IT giant. He was also involved in the creation of HashForests in 2018.

KEY LESSONS

• On October 24, 2017, there was a hard fork of the original open-source cryptocurrency called Bitcoin.
• The declared goal of Bitcoin Gold is to “make bitcoin decentralized again.”
• The main motivation for Bitcoin Gold’s adoption of a new proof-of-work-based mining algorithm was to ensure that large mining operations using specialized equipment would not be unfairly favored.
• Along with “re-decentralizing” bitcoin, distribution, security, and transparency issues were priorities for Bitcoin Gold’s creators.
• As of May 2021, the cryptocurrency was listed on more than 40 exchanges in 11 different currencies.

Prices

 The current price of Bitcoin Gold is $17.87 USD, with a $63,635,525 USD 24-hour trading volume. We continuously update our BTG to USD pricing. Within the past day, Bitcoin Gold has decreased by 1.37%. With a live market cap of $313,019,120 USD, the current CoinMarketCap ranking is #101. It has a maximum quantity of 21,000,000 BTG coins and a circulating supply of 17,513,924 BTG coins.

The price of Bitcoin Gold has been stable for more than six months, fluctuating between $10.00 and $20.00. Multiple attempts to surpass the $20.00 barrier were turned down by buyers. It demonstrates the significant seller’s presence at higher levels. 

The price of BTG cryptocurrency just stretched the range upward after breaking out of the higher area. Unfortunately, customers are not able to maintain the higher levels. 

Analysis

 The long-term trend for the price of Bitcoin Gold points to an increase until it maintains the $10.00 support. Investors are concerned since the price of BTG cryptocurrency is down 34% in the current session.

The price of Bitcoin Gold has maintained above the 50-day and 200-day EMAs, indicating that the downward trend has changed direction. Price is now returning to test the EMAs after experiencing a sharp rejection from higher levels.

The buying volume for Bitcoin gold also abruptly increased at the same time. It demonstrates how busy the speculative market is and suggests that the recent uptrend may be a bull trap. 

The price of Bitcoin Gold is currently $16.10000, down 34.13% on the day. A 24 hour volume-to-market cap ratio of 31.91% is present.

The bullish outlook for the price of Bitcoin Gold continues, indicating that a considerable increase in value may be feasible. However, the price may move with a slight bearish tilt in the near future. Top cryptocurrency values like Bitcoin and Ethereum are also moving in the wrong direction. It might have a detrimental effect on the cost of BTG.

The likelihood of a bounce back stays high until BTG prices maintain over $10.00. However, when prices are able to persist above $20.00, purchasers will acquire confidence. 

On the other side, long-term investors might become concerned if the price falls below $10.00. According to the technical analysis, there is little chance of a slump since the price of Bitcoin Gold has created a solid foundation near $10.00. 

On the Daily Chart:

• The Moving Averages Convergence Divergence (MACD) indicator for B2Gold Corp (BTG) is -0.03, indicating that B2Gold Corp is a Buy.
• With a share price of $3.39 and a 20-Day Exponential Moving Average of 3.60, B2Gold Corp. (BTG) is classified as a Sell.
• B2Gold Corp. (BTG) is a Sell since its 50-Day Exponential Moving Average is 3.66 and its share price is $3.39.

On the Weekly Chart:

• The Moving Averages Convergence Divergence (MACD) indicator for B2Gold Corp (BTG) is -0.01, indicating that B2Gold Corp is a Buy.
• With a share price of $3.39 and a 20-Day Exponential Moving Average of 3.68, B2Gold Corp. (BTG) is classified as a Sell.
• B2Gold Corp. (BTG) is a Sell since its 50-Day Exponential Moving Average is 3.65 and its share price is $3.39.

Indicators:

• The Relative Strength Index (RSI) for B2Gold Corp. (BTG) is 42.84, indicating a Neutral trend.
• The Trend Strength Indicator (ADX) for B2Gold Corp. (BTG) is 12.55, indicating a Buy.
• The Commodity Channel Index (CCI) for B2Gold Corp. (BTG) is -116.34, generating a Buy signal.
• The Price Rate of Change (ROC) for B2Gold Corp. (BTG) is -16.50, generating a Sell signal.

Investor sentiment was harmed by a speculative increase in the price of BTG cryptocurrency. In the weekly time frame, it formed a long-tail bearish rejection candle, demonstrating the might of the bears. 

A positive crossing was visible on the MACD curve, which continued to rise above the zero line. At 55, the RSI reversed its upward trend from the overbought region.

Prediction

By August 7, 2023, the price of Bitcoin Gold is expected to increase by 31.68% and reach $23.15, according to our most recent price prediction. Our technical indicators indicate that the current mood is Neutral, and the Fear and Greed Index is currently at 53 (Neutral). Over the past 30 days, Bitcoin Gold saw 7.65% price volatility and 9/30 (30%) green days. Our Bitcoin Gold forecast indicates that the time is right to acquire Bitcoin Gold.

Price forecast for Bitcoin Gold for 2025

The current range for the predicted price of Bitcoin Gold in 2025 is between $11.11 and $17.39. If BTG meets the higher price target, Bitcoin Gold could lose -0.11% by 2025 as compared to its current price.

Price forecast for Bitcoin Gold in 2030

The range of the projected price for Bitcoin Gold in 2030 is now $1.839698 on the low end and $5.31 on the high end. If Bitcoin Gold reaches the higher price forecast, it might lose -69.52% by 2030 in comparison to its current price.