Bitcoin Gold Price rocks Beyond $400 after Bithumb and Bitfinix add BTG Trading Pairs
Nov 27, 2017 Posted / 3342 Views
After its successful hardfork and subsequent activation Bitcoin Gold had not seen any other good news apart from those previous two. Besieged by DDoS attacks, a third party wallet scam and many unanswered questions about its developers premine, the price of BTG hovered below $200 during most part of November.
BTG luck came to pass on November 20 leading to an unprecedented surge on the currency’s price with increase in price recorded going up to 300%. The temporary spike in BTG price saw another dip to $230 around November 22 before climbing back to $420 by Friday. At the moment the currency trades for $384 and has a daily trading volume of about $500 according to data from coinmarketcap.
The positive trending of the price of Bitcoin Gold is being associated with the support offered by two prominent cryptocurrency exchanges Bitfinix and BitThumb. Although its listing long time listing on these two sites is not assured, BTG was privileged to attain such a listing. Any cryptocurrency being listed on such a major exchange platform would definitely rally a significant liquidity and popularity. More supports are streaming towards Bitcoin Cold as seen from the recent launch of a Bitcoin Gold Wallet created by Freewallet, a developer of about 20 cryptocurrency wallets. Meanwhile, the BTG price is still fluctuating unconditionally like I dose for most cryptocurrencies, analysts expect the price to find its steady range. This would become possible only and only if more platforms embrace the currency and accept to list it on their exchange. Apart from politics within the Bitcoin community, self interest is another factor leading to the numerous splits within the Bitcoin algorithm and Bitcoin community. Bitcoin cash, Bitcoin Gold, and the original Bitcoin all exist under the same Bitcoin umbrella splitting the members of the Bitcoin community into sections.
Read More Related Articles
However, it might not be wise to criticize the current situation in the Bitcoin ecosystem since Bitcoin was originally designed to be the currency if the people meaning that if the people are not comfortable with some of its features a democratic consensus can be reached to determined what is right for the community. Luckily Bitcoin stakeholders who participate in this voting process includes the most elite men and women in the cryptography and programming fronts.
The only disturbing question that would come in, “are we still keeping the original Bitcoin Vision developed by Satoshi Nakamoto?”
The answer varies according to the people attempting it, a prominent supporter of BTC the original Bitcoin would say hell no. Meanwhile, supporters of alt coins as Bitcoin cash or Bitcoin gold are referred to would say everything is in accordance with the original plans. It remains up to the users now and miners to decide which blockchain to remain on.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
Hottest Blockchain Newsletter
For updates and exclusive offers, enter your e-mail below.