Price Analysis

Bitcoin Gold Price Analysis: Turbulent Nature of BTG Is Intact As It Is Hailing Downwards

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Bitcoin Gold is riding high on the charts of the crypto market when the total movement is observed from the start of 2019 until now. The Bitcoin Gold price touched 31.27 USD its 90 days high on 30th May 2019. Soon it came under the selling pressure which pulled the price back from its high, but from 1st June 2019, the Bitcoin Gold price again started showing recovery with solid stability observed until yesterday.

Gold price is moving upwards due to the US-China trade war. The investors are moving towards more solid investments and are also assumed to be attracted by the crypto market Bitcoin Gold that presently ranks amongst the list of top 25 cryptocurrencies may entice the investors by considering its statistics.

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Bitcoin Gold Current Status:

  • Price in BTC: 0.00329719 BTC
  • Price in USD: 25.61 USD (UTC time 04:52)
  • Market cap: 449,446,802 USD
  • Market rank: 24
  • Circulating supply: 17,513,924 BTG

Bitcoin Gold Price Prediction & Analysis:

Bitcoin Gold price chart - 5 june

The 5-day chart shows that the price trends of BTG are very much in persistent, but the frequent declination is predominant. On 31st May, the price of Bitcoin Gold was trading at 29.37 USD. It remained in the bullish zone, until the day end of 3rd June, in spite of the high volatility. On 3rd June, it reached a peak price of 30.24 USD, observed in the said time frame and in this case its earlier price point provided good support. Just when we thought the bulls would linger after reaching this price, the value of BTG coin started falling rapidly and its momentum steeped towards the bearish zones. Currently, it is immersed in the bearish zone only, and it is expected that in the upcoming days it can be traded in the similar zone before it picks up its momentum to the bullish range again. Within 5 days, the value of BTG has decreased by 18.12%. Bitcoin Gold price although declining fast as of now, but from the chart, it is understandable that it has higher ability to get back in the bullish zone sooner.

Conclusion:

All crypto investors and enthusiasts are now aware of the intense volatility that it is expected to be reigning till the end of this year. So, even if crypto rises higher, there is no guarantee of retaining its higher values. Long term investment on crypto like BTG can incur great loses in this year; however, a short investment may turn out to be fruitful. By the end of 2019, Bitcoin Gold is likely to touch $45; depending on the bearish Tzones observed in one year.

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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