BTG's price hasn't increased much since its fork. While initially many believed it to be a "scam", as a fork it greatly improves upon bitcoin: critically, it's ASIC-resistant. Currently, BTC has difficulty 2,227,847,638,504 & hashrate 17.363Ehash/s while BTG 3,051,373 & 44.402Mhash/s. That's 730k times difference in difficulty & 1/3 trillion times difference in hash rate.
That's not the reason for BTG's price to go up, & the Exodus wallet news isn't really that amazing in my opinion. Nevertheless, BTG has bounced back into the original zone (see my last post on BTG) before the bitcoin crash (as comparison, BCH hasn't, still 20% short). In fact, during the past month, BTG has held relatively well in the successive bitcoin crashes. My hypothesis is that b/c BTG has little value it might've been already dumped by BTC manipulators in quantity (even though each time it fails $400 in my opinion is BTC manipulator converting BTG into gunpowder (to screw small investors some more).
This creates an interesting scenarios for BTG:
It's therefore relatively easy for BTG to go up (as it has in the last four times or so), even though $400 will be hard for it to conquer. In other words, BTG benefits from being dismissed.
Once the big manipulators have dumped all their BTG, its price will skyrocket: You can't continually short BTG on the exchanges in high volumes as that's very costly. This is also why BTC futures are critical in shorting it: while shorting assets on the exchanges requires you to buy them back at some point, these future contracts are cash settled. In other words, you don't have to worry about driving the price back up when you close your positions. You can just have fun continually shorting BTC on the exchanges (even at loss). BTG has no futures -> which gives it a brighter future.
That's not the reason for BTG's price to go up, & the Exodus wallet news isn't really that amazing in my opinion. Nevertheless, BTG has bounced back into the original zone (see my last post on BTG) before the bitcoin crash (as comparison, BCH hasn't, still 20% short). In fact, during the past month, BTG has held relatively well in the successive bitcoin crashes. My hypothesis is that b/c BTG has little value it might've been already dumped by BTC manipulators in quantity (even though each time it fails $400 in my opinion is BTC manipulator converting BTG into gunpowder (to screw small investors some more).
This creates an interesting scenarios for BTG:
- BTC manipulators aren't interested in driving BTG price down.
- They'd rather that it goes up from the current bottom so that they can get more gunpowder to manipulate the market.
It's therefore relatively easy for BTG to go up (as it has in the last four times or so), even though $400 will be hard for it to conquer. In other words, BTG benefits from being dismissed.
Once the big manipulators have dumped all their BTG, its price will skyrocket: You can't continually short BTG on the exchanges in high volumes as that's very costly. This is also why BTC futures are critical in shorting it: while shorting assets on the exchanges requires you to buy them back at some point, these future contracts are cash settled. In other words, you don't have to worry about driving the price back up when you close your positions. You can just have fun continually shorting BTC on the exchanges (even at loss). BTG has no futures -> which gives it a brighter future.
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forgot to link my last post
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This is my last post on BCH. I think it could be relevant
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This was a wrong call. Bitshit gets dumped again & dragged the market down.
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Horrible mistake here :'(
Still waiting for the next pump. Perhaps this weekend...
Still waiting for the next pump. Perhaps this weekend...
