In this guide, we will voice our own and market’s opinion on BTG future while discussing Bitcoin Gold price forecast for 2023 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
Since the whole market is tightly correlated, general sentiment is always the first thing to check before predicting the prices of individual coins. So, let us do a quick overview of the market. After a brutal crypto winter in 2022, the market has shown signs of life in 2023. Bitcoin has rallied 80% so far, putting it on track for its best year since 2020. Ethereum is also up 50% year-to-date. Several factors have fueled this crypto rebound. Most notably, Ripple Labs won a key legal victory against the SEC in June, leading to a short-lived price bounce. Renewed institutional interest has also provided a boost, with major firms like BlackRock pushing for Bitcoin ETF approval. Meanwhile, inflation has triggered a crypto comeback as digital assets gain appeal as an anti-inflation hedge. However, major headwinds persist. The total crypto market cap stands at $1.1 trillion after peaking at $3 trillion in late 2021. And volatility remains high. Bitcoin spiked to a 2023 high near $32,000 in May but has since pulled back below $30,000 amidst intensifying regulatory scrutiny. The SEC continues targeting top exchanges like Coinbase and Binance. While the worst of crypto winter seems over, the road to full recovery looks long. But institutional adoption continues growing steadily, and some analysts forecast Bitcoin topping $100,000 within a couple years. Regulatory actions remain crucial to watch. If cryptocurrencies can cement themselves as digital gold safe havens, macro trends could fuel their next bull run. But more clampdowns present downside risk. After a tumultuous 2022, 2023 shows crypto turning a corner - but uncertainty still looms large.
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 2023
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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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
