Gold Cryptocurrency Overwhelmed By Investing.com

© Igor Faun

Investing.com – As Bitcoin struggles to break out of its $30,000 tunnel and cryptocurrency struggles to recover from the devastating effects of the collapse of the dollar-pegged stablecoin terra.

This large digital currency rushed to record very strong heights to grab the spotlight from the market, coinciding with the uprising of the yellow metal, which was launched today, coinciding with the fall of the dollar.

Bitcoin Gold

Bitcoin Gold rallied during these moments of trading today, Monday, to reap gains close to half of its value, reaching levels near $28.

Bitcoin Gold rises during these moments in the range of 445, while it increased in less than 5 days within the limits of 100%, as it increased from levels of $ 17.7, the bottom of May 20, to levels near $ 32.5 during today’s trading.

Despite the risings, Bitcoin Gold is far from its historic peak in December 2020, when it jumped to an all-time high of $450 per coin.

price evolution

The market capitalization of Bitcoin Gold has increased to nearly $500 million to reach the 93rd place among cryptocurrencies by market capitalization.

Bitcoin Gold is declining within thirty days in the range of 18%, while it is declining by more than 32% since the beginning of the year, but it rises by more than 43% during the week’s trading.

The rises of Bitcoin Gold coincided with the uprising of the yellow metal, as traders’ eyes turned towards safe havens, coinciding with the rising of voices warning of upcoming recession waves due to inflation.

glimpse

Bitcoin Gold (BTG) is the second fork after Bitcoin Cash, and Bitcoin Gold appeared through a hardfork event on October 24, 2017.

The best cryptocurrency exchanges for trading Bitcoin Gold stocks are currently Binance, OKX, Bybit, Upbit, and Huobi Global.

Founded in 2017, Bitcoin Gold is an easy-to-use alternative to Bitcoin, the BTG Network aims to combine the security and robustness of the Bitcoin blockchain and its properties with the opportunity for experimentation and development.

The maximum supply is 21 million Bitcoin Gold, while the total current circulating supply is 17.513 million units.

Bitcoin Gold, according to the founders, improves and expands the crypto space using a blockchain that is closely compatible with Bitcoin but without using resources such as Bitcoin’s hash power or competing for the real Bitcoin title.

right Now

The spot contracts for the yellow metal rose during these moments of trading today, Monday, in the range of $ 20, an increase of 1%, to reach levels of $ 1860 an ounce.

It rose to record its first weekly gain in a month, supported by increased investor demand for safe havens amid fears of an economic recession.

dollar today

On the other hand, it fell to its lowest level in three weeks, specifically to the levels of May 4, continuing to move away from its historical peak 20 years ago at levels of 105 points.

The main dollar index fell against a basket of major currencies during these moments of trading today, Monday, to levels near 102.2 points, a decline of close to 1%.

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