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Short-Lived Shine? Bitcoin Gold Could Fall Under $300
Bitcoin gold may have leapt up in the token rankings, but its gleam may soon dull, the price charts indicate.
Updated Sep 13, 2021, 7:12 a.m. Published Nov 27, 2017, 3:45 p.m.
Bitcoin gold (BTG) may have leapt up in the token rankings, but its gleam may soon dull, the price charts indicate.
Notably, the new cryptocurrency, a bitcoin spinoff with a protocol designed to make mining more democratic, has now become the fifth largest cryptocurrency by market capitalization.
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Yet, despite a rally to a high of $413.74 on Nov. 24, and a doubling of prices since Nov. 19, BTG faces plenty of skepticism in the investor community over its real-world role. Comments on social media indicate the investors feel the token is overvalued, with few (or no) apparent use cases.
As a result, the gains to over $400 look to be speculative in nature, unless traders are anticipating use cases to appear.
The price action analysis, though, indicates a correction may be on the way.
At press time, BTG is at $361 – up 4.5 percent for the day, as per CoinMarketCap. Over seven days, the cryptocurrency is up 185 percent.
4-hour chart
The above chart shows:
- A bull flag breakout followed by a rejection at the rising trendline hurdle.
- The relative strength index is losing altitude, signals bulls are losing control.
A bull flag breakout is a continuation pattern ( i.e. an upside break yesterday meant the rally from the low of $150 has resumed). However, prices failed to cut through the resistance offered by the rising trend line.
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The weak follow-through to the bull flag breakout indicates exhaustion, and suggests the potential for a drop to $250 levels in the short-run.
However, a break above $400 in the next 12 hours could yield a rally to fresh record highs above $480 levels.
Gold pan image via Shutterstock
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
알아야 할 것:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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