From time to time a new cryptocurrency is coming to the market; Bitcoin Gold is one of them. And Bitcoin Gold Price in the market is $12 approximately. It is the currency that came into existence with the cryptocurrencies Bitcoin Gold, Bitcoin Cash, and Bitcoin Diamond. So what can you expect from it in the coming future?
Bitcoin Gold is the decentralized currency which came into the existence after the hard fork of the bitcoin. The main reason for the hard fork was to restore the mining functionality with common GPU, in spite of mining with specialized ASIC which is used for the bitcoin mining.
Bitcoin Gold Price Prediction
To predict the price of any cryptocurrency can be a difficult task. This is because they are the most fluctuating currency in the world which can change anytime. It is the currency which is influenced by the various factors, so predicting might be difficult.
However, there are some of the factors which can help you to analyze the value of the bitcoin gold. These factors can help you to estimate the future in which bitcoin gold is headed. So here are some of the factors:
For Positive Growth
These are factors which can move the price of the Bitcoin gold in the positive direction:
The maximum number of bitcoin gold is equal to the number of bitcoin that 21 Million. This will act as the positive factor for the bitcoin gold. The reason for this is – it is considered to be the currency of the future with a limited amount.
When it comes to the accessibility bitcoin gold is the currency which is available on most of the major platform. This availability makes it visible to the buyers as well as a credible one.
The best part using the bitcoin gold is you hold the equal number of coins as you have the bitcoin in your possession. This can be the reason for the wide adaption of the currency all around the world.
All the points are not necessarily in the favor of the bitcoin gold. There are some points which you have to understand are on the negative side of it and can be the reason for the failure. Some of them are discussed below:
The problem that it has to face is the credibility. As there is a number of cryptocurrencies that are available in the market for a very long time. These well-established cryptocurrencies are going to give tough competition to it.
Too many Forks
In the bitcoin gold, there are too many forks which can be very confusing for the person who is new to the cryptocurrency world. There is also the risk of impacting the level of recognition and credibility of all the new currencies that will be available to achieve.
Criticism of fork
All the people did not like the idea of hard fork. They think that it will only create the complication and also consider it to be the new way of making the money nothing else.
So this is the Bitcoin Gold Price and the things you can expect in the coming future. We hope that you find this article to be informative and invest in it accordingly.