Crypto.news – Bitcoin Gold (BTG) has seen a significant rise in price in the last few weeks. On July 30th, the price was at $13.38, and just one day later, it had risen to $21.41 – a 60% increase.
This price increase was highly visible, but it wasn’t the only thing that attracted attention. The volume of the coin rose from 1 million units to 347 million – a 34,600% increase.
However, Bitcoin Gold’s current price of $19.08 is still 95% lower than its all-time high of nearly $500 in 2017. The company was never able to fully recover from the 51% attack and double spending, and even before the attack, the GitHub repository that houses the official client was mostly inactive.
What caused the sudden price increase? The most likely explanation is speculation. Currently, Bitcoin Gold is trading above its resistance at $19.05, and its support is at $13.25. This could be a technical reason why traders may have taken an increased interest in the coin.
