BTG

BTG (Bitcoin Gold) is a fork of Bitcoin in 2017-10-24 with a Pow algorithm Equihash. The team premine 100,000 BTG.

1. Basic Info

2. Technical

2.1 Kline Price Chart

2.2 Technical Analysis

The data indicates a period of significant volatility followed by a sharp price increase and subsequent stabilization with signs of renewed upward momentum.

Initial analysis shows a downtrend from late November into early December, with the price fluctuating widely and eventually bottoming out in early December.Specifically, the stock experienced a steep decline from the 28-38 range to around 22 in early to mid-December, indicating a period of strong bearish pressure. This trend found its floor with price finding support around the 21-22 level and subsequently consolidation within that range.

Mid-December showed some signs of recovery with the price attempting to climb back up toward the 25 level. Then a more pronounced upward trend emerged leading to some consolidation around the 16-17 range before the stock experienced explosive growth, evidenced by the large increase in price and volume from 12-27. The rally pushed the price from a sub 10 dollar value to the 18-19 dollar value, this is indicated by the large price movements and exceptionally high trading volume on January 4th and 5th.

The recent two day spike indicates strong buying pressure and bullish sentiment. While the volume has been high during the price spike, the volume may decrease as prices stabilize, which is characteristic of a stock finding a new balance. However, this increase may suggest a potential for a continued upward trend in the near term.

The price increase is exceptionally sharp and the volumes in the last two days are orders of magnitude greater than any other day in the dataset. This is an anomaly and might indicate unusual market behavior which may not be sustainable in the long term and requires close observation.

The analysis indicates that after a period of high volatility and declines the asset has entered a period of rapid growth. The explosive growth observed over the last two days shows strong bullish potential, however the market still has to find a price equilibrium and further movements are expected as the market adjusts. The price will most likely be volatile until it stabilizes around a new support level.

3. News

3.1 News List

• 20250105

  • BTG, SBD, and STEEM ranked top 10 in Upbit’s Korean Won market trading volume ↑

• 20241224

  • Upbit to Delist Bitcoin Gold (BTG) on January 23 ↓
  • Upbit will delist BTG ↓

3.2 News Analysis

The message data suggests a volatile and potentially manipulative market environment surrounding Bitcoin Gold (BTG) within the Upbit cryptocurrency exchange. The abrupt surge in BTG trading volume, alongside SBD and STEEM, just weeks after an announcement of BTG’s imminent delisting, raises serious concerns. This sudden increase in activity, particularly on the Korean Won market, implies either a coordinated pump and dump scheme designed to exploit unsuspecting investors before the delisting, or a last-ditch effort by holders to offload their assets at inflated prices. The fact that BTG was delisted in late January further corroborates the potential for this manipulation. The pairing of significant market volume increase with delisting news is a strong indicator that information asymmetry and potentially fraudulent practices were at play. The subsequent delisting of BTG following the spike suggests that the exchange saw minimal long-term value in the currency or was taking steps to prevent market instability. Further investigation into the trading patterns of SBD and STEEM is warranted, as they may have been used as collateral or distraction in the BTG scheme, or could be experiencing similar market dynamics. This data underscores the need for greater transparency and regulatory oversight within cryptocurrency exchanges to protect investors from exploitation. Expect similar patterns of delisting pump and dumps in less regulated or smaller cryptocurrency markets, further highlighting the risks of investing in lesser-known altcoins. The trend suggests a focus shift toward safer and more established crypto assets as investors become more wary of potential manipulations.