Thursday, 20 Jun 2019
Business

BTG (Bitcoin Gold) Is Finding It Hard To Stable As A Cryptocurrency

There has not been much of the action for the Bitcoin for several weeks. We have experience that the currency has achieved the high on July 9, when it has touched the mark of 496703 Satoshi. However, the high in the dollar was achieved sometime later, and reach at $34.04 USD for one BGT on July 29.

BTG (Bitcoin Gold) Is Finding It Hard To Stable As A Cryptocurrency

The small rise around the end of month shows some hope that the BTG will see some recovery ahead of time, but the hopes turned down as soon as the price fell down, and touched the monthly lows of 340K satoshi on July 31, and similarly it experienced a low of $25.25 USD on August 12.

However, the month August has not even brought any good news, and now individuals can buy the cryptocurrency at $19.56 USD for one piece, which is again a drop of 0.30% in last 1 day or 313396 Satoshi which shows a drop of 2.80%.

Currently, the Bitcoin Gold’s trade volume is 1215 BTC. The currency is now at the 25th most valuable cryptocurrency spot of the coin market cap with a worth of $ $335,183,777 USD.

The creator of the coin said that the distribution of Bitcoin is facing some issues due to the ASIC mining. This is the primary reason behind the creation of Bitcoin Gold currency. It is been a month that the blockchain technology behind the currency is developed and made it capable of using the Equihash algorithm, which helps them to resist the ASIC mining phenomenon, and made that GPU is the only way to mine BTG.

But there is some other portion that put pressure on BTG, which is basically making it harder for Bitcoin Mining. It is very interesting to experience if BTG has the capability to emerge as a legitimate cryptocurrency or it is going to the same harshness just like Bitcoin.

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