Bitcoin Gold (BTG) is one of the most popular bitcoin forks. In this article, we will talk about bitcoin gold price prediction for Q4 2019 and the next year (2020). Before we get into that, let’s find out more about BTG, its ideology, and the current market situation for BTG.
What Is Bitcoin Gold – Summary
As we have mentioned earlier in our other article What Is Bitcoin Gold, the most significant difference between the original Bitcoin and Bitcoin Gold is about the ideology battle. Bitcoin Gold developers believe the original Bitcoin has been going in the opposite direction of decentralization. Of course, they did not mean in terms of a controlled and centralized entity, but they meant in terms of mining pools. As everybody knows, bitcoin mining has been controlled by certain mining pools. In the eyes of Bitcoin Gold developers, this is very bad for individual miners.
The spirit of mining is no longer controlled by the people but by heartless companies that dedicate their work to get bitcoin mining reward. With Bitcoin Gold, this issue has been fixed significantly. BTG ASIC miners will not get special treatment or prioritization over individual miners with normal computers. And thus, without extra incentives, the hope is to reduce centralization of mining pools, so individuals can control Bitcoin Gold mining efforts once again.
To understand more about Bitcoin Gold, you can check our other article What Is Bitcoin Gold.
Bitcoin Gold Current Situation On The Crypto Market
Bitcoin Gold is currently trading at ~$10.35 per coin. It is trading at 0.0010568 BTC at the time of this post writing. It is currently ranked 38th on coinmarketcap based on market capitalization. Bitcoin Gold is available on different crypto exchanges such as P2B2B, LAToken, Coinsbit, OKEx, HitBTC, Binance, Bitfinex, Sistemkoin, Upbit, BitInka, BW.com, and many others. Considering Bitcoin Gold is a bitcoin fork, it’s not surprising why we can see so many exchanges have BTG in their crypto list.
Well, all the top bitcoin forks such as Bitcoin Cash are also listed in many top exchanges. Bitcoin Gold also has around $12 million daily trading volume, which is not bad at all. Some of the better altcoins with higher rankings than Bitcoin Gold do not even have as much volume as BTG’s trading volume. We believe BTG’s daily volume is doing decently.
Bitcoin Gold Price Prediction For Q4 2019 and 2020 (Next Year)
Just like many other altcoins, Bitcoin Gold has suffered from Bitcoin market dominance this year. Bitcoin market dominance percentage keeps on rising, and Bitcoin Gold is not any exception. It seems like Bitcoin is going to keep rising against Bitcoin Gold and other altcoins until Bitcoin hits and breaks its 2019’s high. We believe it’s likely for Bitcoin Gold to break $12-13 if Bitcoin itself breaks $14000. Otherwise, it seems many big traders still put their faith in Bitcoin and just ignore altcoins altogether.
Bitcoin Gold does not seem like it will go to a different direction compared to other altcoins. Most likely, BTG will only rise against BTC if other altcoins also show their upward movements against BTC. And from our observation, it looks like BTC market dominance won’t go lower anytime soon until some big traders make enough profit from BTC/USD movement.
Where To Store Your Bitcoin Gold Coins?
If you are interested in trading and investing Bitcoin Gold, there are multiple options to store your coins. As we have mentioned in our other article, you can store BTG with hardware wallets like Trezor or Ledger Nano. You can also store them with multiplatform wallets such as Atomic Wallet, Exodus, or Coinomi.
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