Will Bitcoin Gold Be A Good Investment in 2019?

Jan 11, 2019 07:30nbspUTC

| Updated:

Jan 11, 2019 at 07:30nbspUTC

BynbspRushali Shome

As you take batch of your cryptocurrency portfolio at the commencement of the new year, it’s time to cruise uninformed investments. Will Bitcoin Gold be a good investment in 2019? The answer is wily but analysing the intensity step by step should help.

In this article, we will fast take a look at what the stream cost of Bitcoin Gold is, how it has fared over the past days and so on.

You May Also Read: A Beginner’s Guide To Bitcoin Gold

Where Does Bitcoin Gold Currently Stand?

At the time of writing, one territory of Bitcoin Gold (BTG) is labelled at a small sum of $11.79. Its marketplace tip position also is not too good to write home about as it is now at the 26th spot.

If a crypto silver slips from the tip 20 of cryptocurrencies, in terms of marketplace cap, we can contend little in regard of how the crypto silver has been faring so far.

As of now, Coinmarketcap.com annals a high tumble of 12.07% in the cost of Bitcoin Gold. This tumble is quite in gripping with the other crypto cost falls in the same chart. Even the tip players have seen a estimable chip in terms of prices.

Bitcoin Gold: Past Trends

Last year, on 11th January, the cost of Bitcoin Gold was $243.88 at the top via the day. Since then, as is very obvious, there has been a very really high fall.

Over 2018, Bitcoin Gold has been struck with pointy blows from the crypto winter and the cost has usually declined. From the over-$200 cost point in January, BTG slipped to a position subsequent that operation on 25th January, 2019.

A tumble to underneath $100 came in Mar and notwithstanding some small efforts to stand up the wily mountain of prices, Bitcoin Gold kept descending reduce and lower.

In November, it recovered rather to strech a $30-above operation from the mild lows it had been attack but shortly it was not only back to block one, but slipped to a worse position.

The loop of small rises and falls have kept Bitcoin Gold underneath the $15 operation almost via the last month of 2018 and now, January, 2019.

You May Also Read: Pros and Cons of Bitcoin Gold

Should You Invest In Bitcoin Gold in 2019?

We have given you 10 reasons to buy Bitcoin Gold in 2019 already but are those enough? Before we opine on the investment intensity of the coin, we contingency explain a few things.

Firstly, the cryptocurrency marketplace is impossibly flighty and the prices count on a unsafe multiple of a crowd of factors, which is why, giving a guaranteed opinion is subsequent to unfit in this sector. Hence, we advise you to take our investment recommendation in gripping with your possess investment needs and goals.

Secondly, the experts are divided as to the cryptobottom of 2018 is truly over. While ConsenSys’ Joseph Lubin had pronounced that it was, in Dec 2018 itself, analysts like Willy Woo feel Bitcoin, and subsequently, other altcoins might still be in the bear zone.

Having reminded you of these two aspects, let us see if you should bombard out your hard-earned income to buy BTG this year.

You May Also Read: How To Sell Bitcoin Gold?

As the trends have revealed, the cost prospects of Bitcoin Gold do not seem to be too splendid at the moment. It has depressed invariably over the past year, attack new lows with every collapse.

Betting your income on something that has depressed so much over the last 12-month duration can't presumably be a correct idea.

According to Coinmarketcap data, the beginning information in operation is 23rd October, 2017. That day, the top cost of BTG was $539.72. Even within the longest fathomable time duration in Bitcoin Gold’s history, it has regularly fallen.

So we feel it is not correct to deposit in Bitcoin Gold at the moment.

However, should the marketplace unexpected mangle out into a longhorn run, we would not want you to remove out. Given the cost of Bitcoin Gold is rather low at the moment, you can set aside a very small apportionment of your crypto portfolio for BTG.

A small risk at this low cost sounds defensible and if you reason it long enough and sell it wisely, it could end up portion you well.

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Rushali Shome

Rushali Shome is a story undergraduate with a penetrating seductiveness in puns, politics and beyond. When not typing divided furiously in the “Notes” territory of her phone, she can be found perplexing to locate the eye of servers at restaurants or weddings for a second helping.

Article source: https://www.btcwires.com/analysis/will-bitcoin-gold-be-a-good-investment-in-2019/