In this guide, we will express our opinion and that of the market on the future of BTG as we discuss Bitcoin Gold’s price predictions for 2023 and beyond.
Keep in mind that you should take this and any other forecast with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a new highly volatile financial asset like Bitcoin Gold.
Now, let’s get into it.
Before delving into Bitcoin Gold’s price prediction and answering questions about whether BTG is a good investment or not, why BTG will succeed or fail, or why the price of Bitcoin Gold will rise or fall, let’s quickly take a look at what BTG is and its history to date.
What is Bitcoin Gold?
You can “mine” Bitcoins with specialized computer equipment for mining “ASIC”. This is expensive hardware and consumes a lot of power. Such a cost meant that the main version of Bitcoin production increasingly ended up in the hands of the elite.
Bitcoin Gold aims to put digital mining back in the hands of ordinary people. Instead of needing specialized equipment, Bitcoin Gold can be mined from regular computers. This allows anyone with a regular computer to mine Bitcoin Gold, just as Bitcoin was mined in the beginning.
The Bitcoin Gold ecosystem is driven by Equihash’s proof of work algorithm, which links block output to available storage memory. In fact, ASIC machines have been put at a disadvantage since Bitcoin Gold’s inception since custom tweaks will be needed at intervals to keep up with algorithm updates. In simple terms, the machine may not have provided the expected ROI before it was rendered obsolete and no longer fit for purpose.
Smallholder hardware miners are expected to be the big winners, meaning blockchain and its reward system will remain democratic and decentralized. Since the Bitcoin blockchain is primarily open source and technology-driven, space is provided for transparency and decentralization, making it a community project.
Compared to other cryptocurrencies, it has a similarity to Monero in terms of anonymity. It differs from Ethereum and Bitcoin, which are both known to publish transaction details via their respective explorers. This is a starting point for Bitcoin Gold, which does not reveal the addresses of the actual wallets.
BTG Price Prediction for the next 90 days
The entire cryptocurrency world is on the verge of complete collapse. Bitcoin fell 75% from its all-time high amid broader market declines caused by furious inflation and the US Fed’s rate hikes.
When you add the most recent collapses of huge industry players (FTX, Celsius, Moon etc.) into the equation, the horizon is murky and there will be more blood on the streets of the crypto city.
Investors are selling risky assets and moving to more stable markets. Crypto is still perceived as a very risky game and therefore sell off.
Our algo still sees some green in 2023, especially in the second half of the year. This is reflected in our forecast for 2023.
Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend.
Once Bitcoin settles into the new price range, altcoins will start doing the same – we’ve seen this scenario dozens of times in distant and more recent history.
Our price forecasting model is bearish for the next 90 days with a hint of a bull market straddling quarters from Q1 to Q2. We expect whales and other larger players in the market to finish filling their bags around that time, which will cause a typical and sudden crypto spike.
The fundamentals we evaluate are teams, tokenomics, use case, community, marketing efforts, liquidity and availability of exchange, hype and speculative potential, and some other proprietary factors developed in our crypto lab.
Bitcoin Gold Price Prediction 2023
Our forecast model calls for a temporary shift to a bear market in early 2023 before moving to another lead in Q3 and Q4 of 2023.
BTG Price Forecast 2025 – 2030 – 2040
Our forecast model sees BTG faltering in 2025 and falling to $0 or nearly $0.
The Bitcoin Gold price in 2030 and 2040 could be close to zero as we don’t see a bright future for it in the distant future. The project doesn’t offer any unique value to stand out from countless competitors, so we don’t think it’s worth investing in this coin in the long term.