Like every major cryptocurrency out there, some of them go through a fork so that it can implement new features. Remember, even though cryptocurrency is decentralized, the number of available tokens is finite and cannot be changed. The only way to solve this problem is by “forking” it or creating a new iteration of the previous coin.
That’s why Bitcoin Gold was invented. And in this guide, we’ll show you Bitcoin Gold Price Prediction so you can see how it will
What is Bitcoin Gold?
Bitcoin Gold was made with the sole purpose of “making Bitcoin decentralized again.” Right now, Bitcoin mining is very expensive to implement and often leads to a small amount of coins once a block is successfully mined.
Bitcoin Gold solves this issue by allowing everyone in the world to take apart of the mining process. The hardware used for Bitcoin Gold is currently distributed and manufactured by reputable mainstream corporations.
Bitcoin Gold Price Prediction
Bitcoin Gold is currently priced at $33.04. For a crypto pair that’s a fork of Bitcoin, this is a great display of its value. According to CoinMarketCap, Bitcoin Gold is ranked #29 in the world as the top cryptocurrencies.
What does that mean? It means that Bitcoin Gold has value and that there is already a high volume of crypto investors making transactions with the platform.
Like most altcoins, Bitcoin Gold’s price is dependent on its market adoption speed. This means that if investors are interested in it, then more transactions will happen within Bitcoin Gold’s blockchain and its price will rise.
Since it’s a fork of Bitcoin, the value of Bitcoin will also determine its price. If Bitcoin drops, then Bitcoin Gold will fall even harder. Thus, it’s important to understand that Bitcoin Gold’s future is often tied to the development of Bitcoin and must be considered to know its future price.
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.
What’s the Future For Bitcoin Gold?
Bitcoin Gold has gained a lot of interest in the western hemisphere. But that doesn’t mean that its popularity has followed suit. According to this Google Trends graph, Bitcoin Gold’s interest had reached an all-time high on October 22, 2017.
Now, its interest has waned, Bitcoin Gold will have to increase its reach to countries in African and East Asia if they want to remain the same interest levels. Despite its drop in interest, it’s safe to say that the future is bright for Bitcoin Gold.
Basically, Bitcoin Gold Price prediction seems to be heading in the right direction so far. The crypto pair has gained a lot of growth within the following years. If it continues on this path, we can expect it to grow even more!