Post
Topic
Board Altcoin Discussion
Re: Bitcoin Gold (BTG)
by
daberti
on 13/01/2018, 23:55:05 UTC
This btg to me looks like pump and dump by some whales... Many loss during the last dump.... Bitcoin still remain the best..

Bitcoin devs have to add something: Lightning to mention just one.
Until then it will stay in the 13K-17K region as December-January trend is demonstrating.
On Dec 06 BTC reached 19.697K high with an RSI(14) at 94.56%, which was just insane. Following three days (7-8-9) were in red, with lower highs and lower lows (in the BTC prices are deadly within Ichimoku cloud, which is still green, but this is a clear flattish signal, combined with a <50% RSI(14) at writing time. All data from GDAX.

If BCH by end of tomorrow won't be >2.715USD it will play in the same flattish league.

BTG at Bitfinex -as Bittrex uses USDT and Bithumb and other exchanges have been rightly excluded from the price by Coinmarketcap, see https://coinmarketcap.com/currencies/bitcoin-gold/#markets - is pretty close to the flattish territory, despite the massive today's jump.
The most worrying issue yet is that Bithumb now holds >60% of volume and price is more than 70 USD greater than the 359USD computed by Coinmarketcap, as I'm writing. So, yes, techically speaking BTG own price is pumped at Bithumb (NOT by Bithumb), and insanely pumped at Coinone and Korbit (all three with BTG/KRW trading pair).
This is NOT a positive thing, to use an euphemism, and these exchanges should NOT be used as valid references for BTG value and trend altogether.
Bithumb holding >60% of BTG exchange volume is a gravestone to BTG worldwide diffusion.