Bitcoin gold price prediction: is the future golden?
Bitcoin gold has seen significant volatility. What’s the latest BTG price prediction?
- Historic performance
- Bitcoin Gold overview
- Bitcoin Gold price prediction: expert opinion
- BTG price prediction
Bitcoin gold (BTG), developed to become a more decentralised and user-friendly alternative to bitcoin, has experienced a surge in price throughout 2021.
Founded by developers Hang Yin and Martin Kuvandzhiev, Bitcoin Gold is one of the largest and most controversial hard forks on the Bitcoin blockchain. With the goal of creating a proof-of-work coin that does not give disproportionate advantages to major miners, the founders wanted to utilise the security of the Bitcoin blockchain but improve on two issues Bitcoin faces: accessibility and scalability. Instead of requiring large costly equipment to mine BTG, individuals with a standard computer can get involved.
Despite suffering major setbacks since its launch, including three 51% attacks, multiple wallet thefts and two large exchanges refusing to list the coin, Bitcoin Gold has gained market traction throughout 2021.
Before we look at a BTG price prediction, let’s take a look at Bitcoin Gold’s historic performance.
After its launch in 2017, bitcoin gold experienced a meteoric rise in value.
From $132.80 in late October 2017, the BTG price surged to $427.17 on 11 November before dropping to $228.87 on 10 December 2017. BTG price then surged again to a record high of $456.25 on 20 December 2017.
The bitcoin gold price started dropping again and by 7 April 2018, the price had hit $41.16. Throughout the remainder of 2018, 2019 and most of 2020, BTG plateaued around this figure, before hitting its lowest price ever on 13 March 2020 of $4.25.
In early 2021, however, the BTG price began to rise dramatically. With a value of $10.24 on 31 January 2021, BTG had risen to $124.27 on 11 April. Despite dropping again in late April, prices picked up again in early May to year highs of $140.30 on 6 May 2021.
Since then, however, the price has dropped back again, hitting $34.18 on 22 June 2021. Bitcoin gold stood at $57.59 on 22 November.
Over the past year, BTG has risen almost fivefold, while in the past 30 days it has dropped by 16.5%.
Bitcoin Gold overview
Bitcoin Gold has a maximum supply of 21 million BTG coins and a current circulating supply of 17.51 million BTG coins.
Bitcoin Gold is ranked number 108 by Coinmarketcap and has a current market capitalization of $1.007 billion.
But how do these figures impact a BTG price prediction?
Let’s take a look at what analysts think…
Bitcoin Gold price prediction: expert opinion
While predictions, especially long-term ones, can sometimes be completely off the mark, they are worth taking into consideration when considering whether the Bitcoin Gold price will go up or down. Instead of viewing them as absolute indicators of the future, instead it is wise to view them as possibilities.
Bearing this in mind, let’s look at some Bitcoin Gold coin price predictions.
BTG price prediction
WalletInvestor, with an optimistic forecast, says that the BTG price should reach $117.849 in a year’s time and $349.091 in five years.
Gov.capital, in a less optimisic forecast, has a Bitcoin Gold price prediction for 2022 of around $35.541. The site therefore does not recommend investing in the coin.
DigitalCoinPrice thinks that BTG could be worth $100.65 in 2022 before increasing to $122.09 in 2023. The website’s Bitcoin Gold price prediction for 2025 stands at $175.78.
The year-end Bitcoin Gold price prediction for 2030, according to coin price forecast, is $197.66. In response to future forecast of BTG, the platform said “The crypto BTG has a promising future. The price may get marginally impacted, but bulls will be back, and amidst 2023-2024, Bitcoin Gold price may skyrocket to $2,000.”
Potentially. Some analysts forecast that BTG will go up while others believe it will go down. The coin has been affected by several security breaches as well as wallet thefts. Security issues continue to be an ongoing concern for the coin.
The future performance of Bitcoin Gold may also be impacted by a number of other factors, including future BTG-related sentiment and potential regulatory changes.
Bitcoin Gold could go up but it could also go down.
It is important to be cautious when investing. Cryptocurrencies can be highly volatile, and prices can definitely go down as well as up. You will need to do your own research and never invest more than you can afford to lose.
Investing is a very personal choice. Investment choices depend on personal financial goals as well the amount of money you are willing to invest. It is important to do your research and speak to people who know a lot about cryptocurrencies. Try to dig deeper than the word going around on social media platforms as these are not always the most credible sources.