Bitcoin has experienced several forks and branches as a reason of technical innovations or changes. Of them, one of the most commonly discussed is Bitcoin Gold (BTG). Bitcoin gave birth to Bitcoin Gold in October 2017. As hard forks can take place to get rid of issues like scalability, differences in goals between the developers, etc. Bitcoin Gold was formed to “make Bitcoin decentralized again”. It might sound counterintuitive as Bitcoin is already decentralized, but it had to do with the mining process. The developers believed that by developing a new algorithm for the mining process, (called EquiHash), the world’s most popular crypto wouldn’t disproportionately favor major mining operations.
Currently, Bitcoin Gold (BTG) is trading at $11.26 with BTG price 8.14% up today. The market cap of Bitcoin Gold is USD 197,256,320 with 17,513,924 BTG circulating currently. The 24-hour price movement chart indicates that $74,578,565 worth of BTG was trading.
Bitcoin Gold is an open-source cryptocurrency, that is formed as a result of a hard fork. It aims to change the Proof of Work (PoW) mining algorithm, i.e, the mining process can’t run faster on specialized equipment than it can on standardized equipments. Bitcoin Gold's developers were also focused on issues relating to distribution, transparency, and protection besides the goal of "re-decentralizing" it.
Generally, threats from malicious entities and hackers are a continuous concern in a world of digital currencies. BTG took additional measures to help secure its users’ accounts and privacy. At the time of its launch, around 5% of 100,000 coins were being set aside for each of the six primary team members as a bonus. However, the Bitcoin Gold community has ambitious plans for its future.
There are widespread speculations on how Bitcoin Gold would perform in the future. Some of the experts and prediction websites have stated about their forecast. Some of them are as follows:
Wallet Investor is known for coming up with conservative predictions. For Bitcoin Gold, they have again given a pessimistic prediction, where they have mentioned that BTG might fall down to $0.471.
Long Forecast has given a detailed prediction of Bitcoin Gold where they have predicted that by 2023 end, Bitcoin Gold might reach somewhere close to $21.
Digital Coin Price is a prediction site that has predicted that Bitcoin Gold might fall down to as low as $2.28. By 2025, Bitcoin Gold might surge high up and reach $43.44.
Crypto Ground has forecasted for six months, 1 year and 5 years. They believe that Bitcoin Gold might reach $16.7937 in a year and $401.1464 in 5 years.
Bitcoin Gold already supported the bitcore node, with the insight API. There are plans for deploying a stable BTG version to the mainnet. Blockchain explorer web service has been implemented with an Insight API on a Bitcore node. The explorer includes the API interaction on the mainchain. The BTG community is working on BTCsuite, which is a prerequisite for mobile LN wallet development. By the end of 2020, BTG is expected to reach $55.68, as far as these developments are concerned. (Bitcoin Gold News 2020)
Schnorr signatures are on the roadmap list, which would enable multiple inputs to be signed with a single signature so that we can have enough space in the blockchain, and not overcrowding it up. This feature might make BTG grow like anything, along with the integration of the lightning network. 2021 might be the year to grow and expand. By 2020, Bitcoin Gold might reach $55.68.
In five years, Bitcoin Gold might finally achieve with the execution of the BTG Plasma Specification project, which has been very close to their heart, full of ambition and confidence. It might go up the ranking order and become one of the top 20 cryptos in the world.
Bitcoin Gold price prediction suggests that the Bitcoin Gold price is up for a long-term 2283.609052% in the BTG price value with a 5-year investment. This means that in the year 2025, the Bitcoin Gold price is forecasted to stand at $242.847978. (Bitcoin Gold future)
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!