This is my post for Steemit Crypto Academy Trading Competition Season 6 Week 2. And this week I am joining the team INVESTORS with Professor @pelon53 and Professor @imagen.

^{Bitcoin Gold (BTG) logo used on this editorial picture was gained from https://bitcoingold.org/press-kit/.}

1.1. About BTG

1.1.1. A Brief Introduction of BTG and Its History

Bitcoin Gold (BTG) is a hardfork of Bitcoin (BTC). The BTC hardfork that gave birth to BTG occurred on October 24, 2017. The “official” reason for the birth of BTG was to “re-decentralize Bitcoin”, an argument that at a glance seems unacceptable, because Bitcoin – like other crypto assets in general – has been built decentralized as its key characteristic.

BTG was developed by a group of enthusiasts. Two of them are Hang Yin and Martin Kuvandzhiev.^Source If Yin is a computer science graduate who later became a software engineer for Google, while Kuvandzhiev is a computer software engineer who once worked as a lead developer of iOS.

^{Key people at Bitcoin Gold. Source: https://everipedia.org/wiki/lang_en/hang-yin.}

Bitcoin Gold still has the advantages of Bitcoin such as its security, but with developments especially to the mining system with the introduction of the new Proof of Work (PoW) algorithm. The algorithm, which is named Equihash-BTG, is said to be able to balance the distribution of rewards that have always benefited mining operations using sophisticated and special equipment. Equihash-BTC won’t allow any computer, how sophisticated and special they are, to run and mine faster than any standard computer system. Maybe this is what they meant by "re-decentralizing Bitcoin". In addition, Equihash-BTG is said to be able to combat the scalability problems faced by Bitcoin.

Another interesting thing that Bitcoin Gold has to offer is the opportunity for experimentation and development, especially in terms of DeFi and DApps, which is not possible with “original Bitcoin”. In addition, BTG can also be used for various applications including smart contracts.

1.1.2. The Token Statistics

At time of writing, according to CoinMarketCap, BTG was traded at USD 31.32 per token.

^{BTG price in USD at time of writing as seen on https://coinmarketcap.com/currencies/bitcoin-gold/.}

CoinMarketCap, ranked BTG at #110 based on market capitalization.

^{BTG ranked #110 based on market capitalization as seen on https://coinmarketcap.com/currencies/bitcoin-gold/.}

Below is the all-time BTG to USD price chart.

^{All time BTG to USD price chart. Source: https://coinmarketcap.com/currencies/bitcoin-gold/.}

Below is the table of BTG statistics. The data was gathered formhttps://coinmarketcap.com/currencies/bitcoin-gold/.

Aspect	Value
Token Name and Ticker	Bitcoin Gold (BTG)
Market Capitalization	USD 557,097,824
Market Dominance	0.03%
Market Cap Rank	#110
Circulating Supply	17,513,923.59 BTG
Total Supply	17,513,924 BTG
Maximum Supply	21,000,000 BTG
All Time High	USD 539.72 on Oct 23, 2017
All TimeLow	USD 2.54 on Nov 23, 2020
Website	https://bitcoingold.org/
Explorers	bitcoingold.org
	TokenView
	btgexplorer
Community (Social)	bitcointalk; forum
	Twitter; reddit
	Telegram; Discord
	Facebook, YouTube

The technical paper (Whitepaper) is available here.

1.2. Where to Trade BTG

As seen on CoinMarketCap BTG market list, for spot trading, BTG is now listed on 61 markets, and CoinMarketCap did not have data on BTG perpetual and futures market.

The top 15 spot market of BTG are shown in the below screenshot taken from CoinMarketCap.

^{Top 15 BTG spot markets.}

No data on perpetual market of BTG.

^{BTG perpetual market. Source: CoinMarketCap.}

Also no data on futures market of BTG.

^{BTG futures market. Source: CoinMarketCap}

2.1. Why I Trade This Token Today

The only reason I trade this token is because it appeared to be one of those “green” tokens shown in UPbit exchange.

2.2. How Long It Can Rise

I think it won’t rise for too long, considered this situation of the crypto market. Maybe for some hours, and I will try to make profit within those hours.

At time of writing, I found that BTG is “green”, which means that it has a positive performance in the last 24 hours. At least, +0.11% change is still a price increase. The marker (1) on the below screenshot indicates that. To analyze the price chart, I used the 2 EMAs combination and Aroon Indicator. The 15-EMA for shorter period and 50-EMA for the longer one. Aroon Indicator was set to 14 day look back period.

^{The BTG price chart with 2 EMAs and Aroon Indicator. Source: https://id.upbit.com/exchange?code=CRIX.UPBIT.IDR-BTG.}

Marker (2) on the above screenshot shows that the shorter EMA caught up the longer EMA from below and about to cross it to form a Golden Cross, a signal for a bullish period. It was a good time to enter the market, I thought so.

On the other hand, Aroon Indicator, as shown by marker (3) showed that Aroon Up was on top of Aroon Down, of course also a positive signal, a confirmation to 2 EMAs’ Golden Cross. But the Aroon Up line was starting to move downward, a signal of the chance of the price reversal occurrence. So I thought, as I mentioned earlier, it won’t be a long bullish period.

So I entered the market and placed limit order.

^{Placing limit order on UPbit exchange.}

The order was filled several minutes later.

^{The order was filled. Source: UPbit exchange.}

I think, what BTG has to offer, is currently nothing new in the blockchain world. Blockchains of the new generation already offer various possibilities for experimentation and development, this has even been started by the pioneer of the second generation blockchain, Ethereum. The problem of scalability, the new generation of blockchains have also been able to work much faster than Bitcoin or Ethereum. So, if BTG only relies on these two things, I think the public will prefer a new generation blockchain that offers more flexibility in these things.

Would I recommend this token? Looking at the BTG to USD all time price chart as shown above, I currently feel a priori to this token if it is intended to be a long-term asset. So, at the time of writing, I don't feel brave enough to recommend this as a long term asset.

Thanks

Thanks Professor @imagen and Professor @pelon53.

Pictures Source

• The editorial picture was created by me.
• Unless otherwise stated, all another pictures were screenshoots and were edited with Photoshop CS 3.
• The screenshot sources are mentioned in the picture caption right below it.

Sources and Reading Suggestion

• https://bitcoingold.org/
• https://coinmarketcap.com/currencies/bitcoin-gold/
• https://coinmarketcap.com/currencies/bitcoin-gold/markets/
• https://www.investopedia.com/tech/what-bitcoin-gold-exactly/
• https://www.coindesk.com/price/bitcoin-gold/
• https://en.wikipedia.org/wiki/Bitcoin_Gold
• https://twitter.com/bitcoingold?lang=en
• https://www.coingecko.com/en/coins/bitcoin-gold
• https://www.thebalance.com/bitcoin-cash-and-bitcoin-gold-and-how-to-buy-it-4160437
• https://cointelegraph.com/news/bitcoin-gold-blockchain-hit-by-51-attack-leading-to-70k-double-spend

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My Introductory Post | Artikel Perkenalan Saya.

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^{Picture created by @aneukpineung78}

Thanks for stopping by.