{"id":222781,"date":"2021-04-09T10:54:20","date_gmt":"2021-04-09T07:54:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/not-a-cheaper-bitcoin-bitcoin-gold-soars-173-as-traders-may-be-buying-the-wrong-btg\/"},"modified":"2021-04-09T10:54:20","modified_gmt":"2021-04-09T07:54:20","slug":"not-a-cheaper-bitcoin-bitcoin-gold-soars-173-as-traders-may-be-buying-the-wrong-btg","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/not-a-cheaper-bitcoin-bitcoin-gold-soars-173-as-traders-may-be-buying-the-wrong-btg\/","title":{"rendered":"# &#8216;Not a cheaper Bitcoin&#8217; \u2014 Bitcoin Gold soars 173% as traders may be buying the wrong BTG"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d1f6aadbe6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d1f6aadbe6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/not-a-cheaper-bitcoin-bitcoin-gold-soars-173-as-traders-may-be-buying-the-wrong-btg\/#Bitcoin_Gold_piggybacks_to_173_weekly_gains\" >Bitcoin Gold piggybacks to 173% weekly gains<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/not-a-cheaper-bitcoin-bitcoin-gold-soars-173-as-traders-may-be-buying-the-wrong-btg\/#Nothing_to_do_with_Bitcoin\" >Nothing to do with Bitcoin<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># &#8216;Not a cheaper Bitcoin&#8217; \u2014 Bitcoin Gold soars 173% as traders may be buying the wrong BTG <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>A long-forgotten Bitcoin (BTC) hard fork has surged almost 200% in a week \u2014 simply because traders are buying the wrong altcoin.<\/p>\n<p>Bitcoin Gold (BTG), a relic from the 2017 forking season, traded at $113 on April 9 \u2014 the highest price since February 2018 \u2014 after 30% daily gains as trading volumes topped $250 million.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_Gold_piggybacks_to_173_weekly_gains\"><\/span>Bitcoin Gold piggybacks to 173% weekly gains<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A curious contrast to an otherwise lackluster cryptocurrency market, Bitcoin Gold\u2019s success <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be not wholly genuine \u2014 but also not the fault of its holders or developers. <\/p>\n<p>As Cointelegraph reported\u00a0on Tuesday, a new Bitcoin fund from Brazillian investment bank BTG Pactual moved a step closer to launching this week after teaming up with the Winklevoss twins\u2019 Gemini exchange for custody management.<\/p>\n<p>While having nothing to do with Bitcoin Gold, the biggest Brazilian investment bank does share the altcoin\u2019s ticker \u2014 and the coincidence was good enough for hungry buyers.<\/p>\n<p>After the Gemini <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> broke, Bitcoin Gold saw a flurry of demand which at the time of writing shows no sign of abating. This, reactions argued, showed that the cryptocurrency industry was still very much in its nascent phase.<\/p>\n<p>\u201cWe&#8217;re so early that people buy Bitcoin Gold BTG, because there is a new fund called BTG Pactual,\u201d podcast host Anita Posch <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AnitaPosch\/status\/1379764309681659904\">warned<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> users. <\/p>\n<blockquote><p>\u201cNo, it&#8217;s not a cheaper Bitcoin!\u201d<\/p><\/blockquote>\n<p>By contrast, Bitcoin Gold <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcoingold.org\/phala-network-partners-with-bitcoin-gold\/\">announcing<\/a> an actual partnership in late March did hardly anything for price action.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/cd66c8dd-d23b-4a4d-80ad-ae337ec86038.png\"><figcaption style=\"text-align: center;\"><em>BTG\/USD 1-hour candle chart (Binance). Source: Tradingview<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Nothing_to_do_with_Bitcoin\"><\/span>Nothing to do with Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin Gold came about as one of the multiple hard forks of Bitcoin in 2017, the year that also spawned Bitcoin Cash (BCH), Bitcoin Diamond (BCD) and others.<\/p>\n<p>Unlike their parent, the forks have achieved only limited success. As Cointelegraph recently reported, despite the broad uptick sweeping through altcoins more broadly, BCH, for example, continues to lose value in BTC terms.<\/p>\n<p>Some of their proponents have adopted an aggressive marketing stance which positions the fork as Bitcoin itself, a misleading move which has likely also contributed to demand.<\/p>\n<p>Cointelegraph reiterates that buying Bitcoin Gold, Bitcoin Cash or any cryptocurrency with a ticker other than BTC means that one holds an altcoin, not Bitcoin itself.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/not-a-cheaper-bitcoin-bitcoin-gold-soars-173-as-traders-may-be-buying-the-wrong-btg\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# &#8216;Not a cheaper Bitcoin&#8217; \u2014 Bitcoin Gold soars 173% as traders may be buying the wrong BTG &#8221; A long-forgotten Bitcoin (BTC) hard fork has surged almost 200% in a week \u2014 simply because traders are buying the wrong altcoin. Bitcoin Gold (BTG), a relic from the 2017 forking season, traded at $113 on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":222782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvYjc2ZTFlN2YtNzZmNS00NGQxLWJkY2MtMDk1YTNiMTE3M2M1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,101418,74937,22483,73785],"class_list":["post-222781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-gold","tag-bitcoin-price","tag-brazil","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/222781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=222781"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/222781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/222782"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=222781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=222781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=222781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}