Bitcoin Gold Price Prediction 2021 – Will BTG Hit $300 Soon?

Bitcoin Gold Price Prediction 2021 - Will BTG Hit $300 Soon?
  • Bullish BTG price prediction ranges from $72to $296.
  • BTG price might also reach $300 soon.
  • BTG bearish market price prediction for 2021 is $15.

In Bitcoin Gold (BTG) price prediction 2021, we use statistics, price analysis, RSI, and much other information about BTG to analyze the future trend of cryptocurrency.

Bitcoin Gold (BTG) is a user-friendly alternative to Bitcoin (BTC). The network aims to combine the security and sturdiness of the Bitcoin blockchain. Also to present a coin with the implementation capabilities of Btcoin. Bitcoin Gold (BTG) relies on the proof-of-work (PoW) consensus mechanism. Bitcoin Gold allows developers to participate in the governance and development of the blockchain freely.

According to CoinGecko, the BTG price is trading at $39.26 with a 24-hour trading volume of $24,119,636, at the time of writing. However, BTG has decreased by 3.74% in the last 24 hours.

Moreover, BTG has a circulating supply of 17,513,923.59 BTG. Currently, BTG trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, Upbit, and HitBTC

Bitcoin Gold (BTG) Price Prediction 2021

BTG holds the 93rd position on CoinGecko right now. BTG price prediction 2021 is explained below with a weekly time frame.

BTG/USDT Price Chart weekly Time Frame (Source: TradingView)

The above chart shows the Higher High and Higher Low patterns. This pattern is an upward trend, and the value of tokens is generally increasing. As shown in the figure above, BTG changed from a bearish to bullish trend at the beginning of this period. 

In the weekly time frame chart,  if the price of the BTG breaks the resistance level of $167, it will reach the target of $370. Or else, if the price of the BTG drops it will fall to the support level at $15. So, the trend of the BTG is based on the breakout.

BTG Support and Resistance Level

The below chart shows the support and resistance level of BTG.

BTG/USDT Support and Resistance Level (Source: TradingView)

From the above weekly time frames, it is clear the following are the resistance and support level of BTG.

  • Resistance Level 1 – $72
  • Resistance Level 2 – $148
  • Resistance Level 3 – $296
  • Support Level 1 – $33
  • Support Level 2 – $15

The charts show that BTG has performed a bullish trend over the past month. If this trend continues, BTG might run along with the bulls overtaking its resistance level at $296.

Conversely, if the investors turn against the crypto, the price of BTG might plummet to almost $15, a bearish signal.

BTG Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of BTG. Generally, ADX is used to measure the overall strength of the trend and it is related to the Directional Movement Index (DMI).

The oscillator ranges from 0 to 100. Moreover, a high price indicates a strong trend, and a low price shows a weak trend. It is often combined with directional indicators. 

BTG/USDT ADX(Source: TradingView)

The above chart shows the ADX of BTG stays above the range of 5, so it indicates a weak trend.

Conclusion

BTG is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term BTG price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $456.25 this year. However, this only happens when BTG breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the BTG ecosystem, it could experience a great future ahead in 2021. It may reach $296 soon and it might even reach high heights, however reaching $300, if investors have planned that BTG is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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