The altcoin frenzy is breeding lots of winners. XRP (CCC:XRP-USD), Cardano (CCC:ADA-USD) and Litecoin (CCC:LTC-USD) have all been in the spotlight, growing in popularity as alternate plays. However, beyond these red-hot cryptos, another trend is gaining traction. Forked options like Bitcoin Gold (CCC:BTG-USD) are starting to fly high. Now, Bitcoin Gold (BTG) price predictions are evaluating whether this growth can continue.
Bitcoin Gold is not a rip off of Bitcoin (CCC:BTC-USD). In fact, Bitcoin Gold was originally part of Bitcoin’s protocol. In 2017, Bitcoin Gold forked from the Bitcoin protocol to become its own currency after some community disputes over user-friendliness.
Bitcoin Gold’s aim is to take the security of Bitcoin and supplement it with its own characteristics.
After the fork, BTG reached its all-time high of $539.72 before dropping. Back in April, BTG got some unintended publicity that has catalyzed big gains again. Cointelegraph reported that BTG trading volume and prices shot up in the wake of Gemini’s partnership with a Brazilian Bitcoin fund called BTG. Users likely conflated BTG with the fund and inadvertently drove up BTG prices to their highest levels in years.
Bitcoin Gold (BTG) Price Predictions Diverge After Mistaken Gains
Bitcoin Gold is in a great place right now. It’s trading at $148.75, a 26% gain in 24 hours. Trading volume is up over 93% today. It should be known that Bitcoin Gold is not Bitcoin. They are separate cryptos with separate protocols that are only linked by name. The gains at this point aren’t attached to any news; they are driven by the Bitcoin name. That being said, if the Bitcoin Gold interest continues, it could continue to see gains into the future.
So with that in mind, where do Bitcoin Gold (BTG) price predictions stand?
The Economy Forecast Agency is bullish on the future of BTG. The outlet is suggesting a $373 price tag for BTG by the end of this year. This take is not unpopular either; DigitalCoinPrice also thinks BTG will gain through the year, predicting a $220.63 price for the coin.
There are others who are a little more skeptical of BTG. WalletInvestor thinks BTG will stall out after the current climb and sit at $142.51. And alongside these bearish predictions are deep dives from outlets like Cryptogeek, which wants readers to understand that BTG is not Bitcoin, and that this fad could very well fizzle out when investors realize that.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.
View more information: https://investorplace.com/2021/05/bitcoin-gold-btg-price-predictions-where-will-the-altcoin-frenzy-take-btg/