Know What Bitcoin Gold (BTG) Is? Here’s Why You Should Care

Bitcoin Gold (BTG) certainly doesn’t get as much attention as Bitcoin Cash (BCH). But they were both forked from the Bitcoin (BTC) blockchain, so they are sort of like twin brothers. Actually, they are more like clones of one another, based on the same original DNA. These coins have both dropped by about 50% in the past month too. But the Bitcoin Gold price is only at $221.13, compared to BCH – which is valued at about $1,767 right now.

That means that Bitcoin Cash is the 4th most valuable currency on the global market. Bitcoin Gold is in 15th place. But that’s understandable – BTG launched in November. That was months after the BCH hard fork happened.

Where is the Bitcoin Gold Price Path Headed?

Bitcoin Gold coins are available on more than a dozen exchanges. The list of places where you can buy BTG has just grown, too:

 

It is on these exchanges that the price of BTG has been driven up nearly 10% today. That’s the best gain out of all top 15 most valuable currencies. Ripple (XRP) and NEO (NEO), for example, are both down 8%. Stellar Lumens (XLM) are trading 7.5% lower today.

The past week, however, hasn’t been quite as swell. The Bitcoin Gold price has remained flat over the last seven-day stretch. It’s in the $220s this week, but five days ago it briefly surpassed the $300 mark. It just looks like this coin isn’t really headed north anytime soon.

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And the fact that there is a much more successful BTC-forked coin out there (Bitcoin Cash, I mean) isn’t helping this coin. After all, Bitcoin Gold coins were only ever created to make BTC mining more accessible. The Bitcoin mining game has gotten monopolized, and it’s not affordable for regular joe shmoes to be able to participate.

Bitcoin Gold (BTG) changed all of that. But other than that, it’s hard to say that Bitcoin Gold is more special than hotter altcoins – like Cardano (ADA) or Ripple (XRP). In fact, the Bitcoin Gold price isn’t even more convincing than those coins’ recent surges.

What I’m saying is: you should care about where BTG stands, but be realistic about it.

What do you think – does this coin has a chance?




Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

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Stephanie attended University of California Santa Barbara and graduated with a double-major in economics and communications. After working for an accounting firm as an analyst for two and a half years, she began freelancing – specializing in writing content for accounting blogs. After branching out into writing how-to guides and even whitepapers on personal finance and financial technology, Stephanie began writing on cryptocurrencies and blockchain technology. She has been personally buying crypto coins for almost two years, and has written blog content for the past year and a half.

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