Bitcoin Gold

Bitcoin

Gold

Bitcoin Gold (BTG), a cryptocurrency infamous for being one of the select few that fell victim to a 51% attack, has been aggressively <a href="https://coinmarketcap.com/currencies/bitcoin-gold/" target="_blank" rel="noopener noreferrer nofollow">rising</a> over the last few days. 
Bitcoin Gold went from $13.38 on July 30 to $21.41 today, July 31 — a 60% rise in one day, CoinMarketCap data shows. 
While the increase in price is notable on its own, the increase in volume has also drawn a lot of attention. The volume went from about one million when the price was about to start increasing on July 30 to $347 million on July 31 — a 34,600% increase. 
Despite the sharp value increase, Bitcoin Gold’s current price of $19.08 is still a far cry from its all-time high of nearly $500 reached in 2017. The current price is over 95% lower than its record price. 
Bitcoin Gold has never fully recovered after its <a href="https://gist.github.com/metalicjames/71321570a105940529e709651d0a9765" target="_blank" rel="noopener noreferrer nofollow">fell victim</a> to a successful 51% attack and a double spend. It was largely inactive even before the attack, with the GitHub <a href="https://github.com/BTCGPU/BTCGPU" target="_blank" rel="noopener noreferrer nofollow">repository</a> of its official client lying mostly dormant since 2019. 
<figure class="wp-block-image size-full is-resized"> 
 <img decoding="async" src="https://crypto.news/app/uploads/2023/07/image-8.png" alt="Bitcoin Gold client contributions chart" class="wp-image-14182062" width="798" height="431"> 
 <figcaption class="wp-element-caption">
 Bitcoin Gold client contributions chart 
 </figcaption> 
</figure> 
<h2 class="wp-block-heading" id="why-the-sudden-price-increase">Why the sudden price increase?</h2> 
There is no clear reason for the sudden rise in Bitcoin Gold’s price, with the most likely culprit being pure speculation. BTG is currently trading over its resistance at $19.05, and its support is at $13.25 — which provides a possible technical explanation for a trader’s rise in interest in this coin.

Bitcoin Gold (BTG) gains 60% in one day

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