Bitcoin Gold May Drop

Bitcoin Gold May Drop
Bitcoin Gold (BTG) may not be living up to its hype, despite its recent successes. Bitcoin Gold was meant to make mining more democratic and has jumped to being the fifth largest cryptocurrency by market capitalization. It reached a high of $413.74 on November 24, doubling its prices since November 19. However, despite these notable jumps, not everyone feels it is worth it. Social media comments show that some investors think BTG is overvalued and that there are few apparent use cases. This makes the $400 gains speculative unless traders are otherwise anticipating use cases to appear in the future. This looks like it may not be the case though, as price analysis indicates a correction is what the future actually holds. BTG may end up dropping to $250 levels in the short-run. But it could also go up to $480 levels. The next 12 hours will be crucial in determining whether Bitcoin gold is worth it or not. Featured Image: Depositphotos/© Merlinus74

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