Price Analysis

Bitcoin Gold Price Analysis: BTG Price Fails to Recover Despite Bullish Trend in Bitcoin

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Bitcoin (BTC) is showing a price recovery in the market today. The currency is considered as the anchor to many altcoins, but it seems like Bitcoin is hardly affecting Bitcoin Gold’s current price.

The U.S.-China trade war is likely to direct many investors to cryptomarket. The hopes from Bitcoin Gold (BTG) are higher as usual, but the current blood rush is making us think over the options of investment again.

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We do not doubt about the potential of Bitcoin Gold (BTG) to generate profitable returns in the coming future, but currently, the currency is showing no sign to recover.

BTG/USD 5 Day Price Chart – TradingView

The chart is taken from Trading View on 6th June 2019, at 08:37 UTC for price analysis:

BTG/USD 5 Day Price Chart - 6 June

Current Statistics of Bitcoin Gold (BTG):

  • The current trading price of the coin is USD 25.077.
  • Bitcoin Gold currently generates a negative ROI of 94.72%.
  • The currency stands at 24th rank.
  • The 24hr volume is $29,621,869 USD.
  • The circulating supply of Bitcoin Gold is around 17,513,924 BTG.

BTG/USD 1 Day Chart

BTG/USD 1 Day Chart - 6 June

Bitcoin Gold Price Comparison:

Bitcoin Gold (BTG) has always reverted in favor of investors. During the recent trend, the coin dropped a couple of dollars and now struggling to cope up. In the charts given above, if we compare the price of the last five days then we could get to see a clear regression of 14.02% as the price on 1st June was $29.21 and today as on 6th June 2019, at 08:37 UTC it is at $25.077.

Talking about yesterday’s movement, the coin experienced many ups and downs. It touched a high of $26.49 and a drop of $24.80, which indicates regression of 6.34%. Towards the last second hour of the day, the coin tried to climb up but failed. Bitcoin Gold (BTG) ended up with a bearish trend yesterday.

Today, the opening price was $25.42. The price is continuously falling as it is presently dealing at $25.077, a drop by 1.4% is marked when compared to the opening price.

BTG Price Prediction and Conclusion:

Bitcoin price chart has usually affected the Bitcoin Gold. Today, it is one of the exceptional days. Hence we are expecting that the prices could see a brighter tomorrow if Bitcoin continues to grow in the chart.

Predicting anything about the future of Bitcoin Gold (BTG) could be vague. Thus, we would request the investors to hold tight for a while until the BTG shows some recovery or short term investment is likely to fetch returns from BTG.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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