Bitcoin Gold (BTG) is the best performing altcoin in 2019

Bitcoin Gold (BTG) is the best performing altcoin in 2019

Bitcoin Gold (BTG) is a new kind of cryptocurrency that came about as a result of a Bitcoin hard fork and is aimed to be more decentralized than Bitcoin. BTG was founded in 2017 by Jack Liao, who was CEO of the mining software company Lightning ASIC, headquartered in Hong Kong. BTG uses the same PoW consensus algorithm as BTC does, so the main difference between them is the use of Equilash hash algorithm instead of SHA 256 in order to prevent Bitcoin Gold mining unless it is done with ASIC equipment. Bitcoin Gold BTG price also depends on btg buyers’ interest and, despite the fact that many BTC holders have exchanged their crypto money for BTG when it first appeared, Bitcoin Gold’s future is still unknown, as currently it is only ranked 20th by market cap. "Bitcoin Gold (BTG) is the best performing altcoin"

Bitcoin Gold (BTG) is the best performing altcoin in 2019

Bitcoin Gold gains come after several days of consolidation between $26 - $27.
Bitcoin Gold has formed a high at $31.40 but is currently retracing towards $30.00.

BTG leads with gains in excess of 4.5% while Bitcoin is up 2.7% on the day. The crypto appreciated in value incredibly for the past three days. The gains came after several days of consolidation in a narrow range between $26 and $27.

The initial break occurred on Monday with a step above both the 50 Simple Moving Average (SMA) and the 100 SMA 1-h. The buyers pushed the price higher above the resistance at $27 opening the door for correction that zoomed above $30.00.

30.00. Technical indicators are still bullish at press time, which means a higher low pattern is possible. The Relative Strength Index (RSI) retreat from the levels above 70 suggests an impending reversal from the intraday high. The Moving Average Convergence Divergence (MACD) shows the bulls losing grip as the bears gain traction.

Initial support has been established at $30.00 while the next target is at $27. Any further correction will seek refuge at $26 - $27. Both the moving averages currently at $28.47 (50 SMA) and $27.53 (100 SMA) will prevent declines in that order.

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