Bitcoin Gold (BTG) is the second fork from Bitcoin (i.e. the second version to stem from Bitcoin’s source code) after Bitcoin Cash. The Bitcoin Gold fork occurred on 24th of October 2017, at block height 491,407. It does retain Bitcoin’s transaction history, meaning if you owned Bitcoins before the fork, you now own the equal amount of Bitcoin Gold. This cryptocurrency aims to introduce an alternative mining algorithm that is less susceptible to ASIC-based optimisation, therefore allowing users to earn more with their computer cycles.
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Yet another Bitcoin offspring that did not have a very promising start; Immediately after its launch in late October, it’s website had to force a shutdown after a DDOS attack. Obligating the Bitcoin Gold price to decline substantially. According to finance leaders CoinMarketCap, Bitcoin Gold started trading at $479 at 20:00 UTC by 16:11 UTC plummeted to $274.44.
Besides their website being offline, another reason for the devastating decline was predominantly by fault of the lack of support from the Bitcoin community.
It is an extremely volatile asset and continues to dance among the bulls and the bears:
AvaTrade offers you the opportunity to BUY (go long) or SELL (go short) on all Bitcoin Gold trades, so you can use your preferred trading strategies regardless of which way the currency is moving.
We encourage you to learn more about Bitcoin Gold trading by visiting our trading conditions & charges page. Please note: The cryptocurrencies market’s high volatility offers endless trading opportunities.
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