In this guide, we will voice our own and market’s opinion on BTG future while discussing Bitcoin Gold price forecast for 2024 and beyond.
Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a novel, highly volatile financial asset like Bitcoin Gold.
Now, let’s head into it. Before we delve deep into the Bitcoin Gold price prediction and answer questions if BTG is a good investment or not, why will BTG succeed or fail or why will Bitcoin Gold price rise or drop, let’s quickly throw a glance at what is BTG and its to date history.
What you'll learn 👉
What Is Bitcoin Gold?
You can “mine” Bitcoin with specialized “ASIC” mining computer equipment. This is expensive hardware and consumes a lot of energy. That cost has caused the main version of Bitcoin production to land more and more in the hands of the elite.
Bitcoin Gold is meant to put digital mining back into the hands of regular people. Instead of needing specialized equipment, Bitcoin Gold can be mined by regular computers. This allows anyone with a regular computer to mine Bitcoin Gold, much the way Bitcoin was mined in the beginning.
The Bitcoin Gold ecosystem is driven by the Equihash proof of work algorithm, which links block output to the memory available for storage. Effectively, ASIC machines were put at a disadvantage from the onset of Bitcoin Gold as custom modifications will be required at intervals to keep up with the updates to the algorithm. In simple terms, the machine might not have delivered its expected ROI before it is rendered obsolete, and no longer fit for purpose.
Smallholder hardware miners are projected to be the big winners, meaning that the blockchain and its reward system will remain democratic and decentralized. With the Bitcoin blockchain being primarily open-source and technology-driven, room for transparency and decentralization is provided, making it a community project.
Compared with other cryptocurrencies, it bears a semblance to Monero in terms of anonymity. It differs from Ethereum and Bitcoin, which are both known to publish transaction details via their respective explorers. This is a point of departure for Bitcoin Gold, which does not reveal actual wallet addresses.
BTG Price Prediction For The Next 90 Days
Following the landmark approvals of Bitcoin ETFs earlier this year, there has been a surge in interest from both retail and institutional investors. This could be a game-change for crypto. With the regulatory landscape beginning to stabilize and provide clearer guidelines, the cryptocurrency market is poised for a transformative finish of the year. At least this is what crypto traders hope for. Bitcoin ETF approvals were done in early January, setting a positive tone for the market. Now, attention is turning towards post-halving rallies, with the BTC halving and ETH ETFs now well behind us. Ripple was also fined to pay $125 million to SEC based on the most recent ruling decision. This is considered as another victory for XRP. Bitcoin has almost tripled in price since last summer, with the upcoming US elections expected to further boost Bitcoin, Ethereum, and the broader crypto market. Bitcoin is trading around $60-63k now, after it hit a new ATH of $73k in March. Ethereum also had its own ETFs approved by SEC. The ETH price is currently around $2,400 and still has not broken its ATH from the 2021 bull run. Investors are hopeful this will happen soon. The majority of investors, traders, and crypto influencers are hopeful that the real crypto bull run will finally commence, bolstered by the recent ETF approvals and historical post-halving rallies. Some of the hottest sectors so far this year were memes, RWA and AI projects.
Below is a tabular overview of how will BTG develop in the short-term (for the next 90 days), according to our prediction model:
Bitcoin Gold Price Prediction 2024
Our prediction model sees a temporary switch to a bear market at the beginning of 2023 before we move onto another leg up in Q3 & Q4 of 2023.
BTG Price Prediction 2025 – 2030 – 2040
Our prediction model sees BTG faltering in 2025 and dropping down to $0 or almost $0.
Bitcoin Gold price in 2030 & 2040 could be close to zero as we don’t see a bright future for it in the distant future. The project offers no unique value to set itself apart from countless competitors, hence we don’t think it is worth investing in this coin for the long term.
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