At present, gold is the 5th most valuable mineral in the world. When a new supply of this precious mineral is discovered for the first time, it often prompts what’s known as a gold rush. In a nutshell, a gold rush is when a bunch of miners show up to claim a new found stash and (ideally) make a fortune in the process.
In 2017, a different kind of gold caused its own sort of rush. However, this gold was of the digital variety and is known as Bitcoin Gold (BTG).
Bitcoin Gold was created from one of the many Bitcoin forks last year. This relatively new altcoin was designed with the goal of making bitcoin decentralized again, giving ordinary users the opportunity to mine this new cryptocurrency and address some of the key criticisms leveled at BTC.
Since its inception, Bitcoin Gold has been an extremely volatile token. Having traded as high as $479 at one point, at press time, a single BTG token is going for roughly $30.
While this relatively new cryptocurrency’s value has taken quite a hit since its peak, some folks still think Bitcoin Gold has a very bright future.
Disclaimer: This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.
Sameer Kotian: Kotian is a contributor for Tech Shout – a website that covers a wide array of technology-related topics. Last June, the blogger provided his take on where he believes BTG’s price is headed.
Kotian believes that since it’s a fork of Bitcoin, Bitcoin’s Gold’s price movement is tied to BTC to a degree. He also believes that the altcoin will need to pick up steam in places like East Asia and Africa.
That being said, Kotian is fairly bullish when it comes to his price forecast. In the Techshout author’s own words:
“We predict that Bitcoin Gold’s price will increase as blockchain technology continues to mature. If Bitcoin Gold’s yearly rate of growth was to follow the same pattern as Google, it’s value will be as high as $497.06 in 2024.
But if it does experience a high rate of growth based on Moore’s law, its price will continue to double until it reaches a high $2175.42 in 2024. This means that its value will increase because more investors will be using its platform.”
PricePredection.Info: It’s unlikely that anyone will be surprised to discover that PridePredection.Info is a website that features crypto price predictions.
According to their site, they have teamed with the best data engineers from MIT and offer algorithms that provide the best crypto price predictions.
Apparently, when BTG was trading at around $27, these algorithms helped lead to the following predictions:
“The forecast for the Bitcoin Gold cryptocurrency by the end of (the) year 2018 is around $27.83 x 4 ($111.32). This is because following the previous highs of the Crypto market; a 4x bull run is expected for the cryptomarket in 2018 according to our Technical analysis. A bull run crypto market lifts all boats and is likely to produce good returns especially for strong coins.
Furthermore, the five-year forecast for Bitcoin Gold is around $27.83 x 10 ($278.30) at the minimum. Thus, even if you’re just looking to invest for a one-year period, you would be able to make a significant amount of return. On the other hand, even if you’re looking to invest for 5 years, the investment return which you can get from these levels is enormous.”
Brendon Angers: Your Crypto Wizard writer Brendon Angers provides a cautions, yet still optimistic, BTG forecast. Unlike our previous predictors, Angers acknowledges the fact that Bitcoin Gold could be retired – meaning the altcoin’s value would drop to zero.
However, operating under the assumption that Bitcoin Gold will be around for the foreseeable future, the author had this to say about the volatile token:
“Assuming that the worst case scenario does not come to pass, you could be looking at 2020 as a pretty solid year for returns for those who have held on through 2019. In other words, you really have to be brave during 2019 as this is likely to be a turbulent time for the currency. Many see it hovering between $13 and $20 per coin during that year. However, that is just the lead up to 2020 when it is expected to finally start to reward investors. In 2020 things are likely to get more interesting as Bitcoin Gold could rise to between $30 and $40 per coin or perhaps even more. What is it about this time period that could get so many investors so excited? Well, many are expecting that a general decline in the stock market at this time could be the catalyst.”