A lot of readers will be surprised to learn there are actual Bitcoin Gold futures markets. Although this “fork” has been seeing a lot less interest and support compared to Bitcoin Cash or even the future SegWit2x altcoin, there is some enthusiasm associated with the project. It appears there are two futures markets out there right now, neither of which attributes much value to BTG.
Bitcoin Gold Futures Don’t Look Great
It is evident the Bitcoin Gold currency won’t have much to do with Bitcoin whatsoever. It has a premine, a completely different mining algorithm, and doesn’t even use the traditional “forking method” which was used by Bitcoin Cash. In every sense of the word, it is an altcoin first and foremost, and one which seems intent on riding Bitcoin’s coattails.
That being said, there is still a fair bit of interest in Bitcoin Gold, even though obtaining and trading it may prove to be pretty troublesome. There are always people who like to speculate on the future price of existing and new cryptocurrencies. Bitcoin Gold is no exception in this regard, which is why there are at least two different futures markets as of right now.
First of all, we have a Brazilian futures market for BTG, which can be found on Bleutrade. At the time of writing, every BTG was valued at 0.045 Bitcoin, which is actually a bit higher than most people would expect. There is also a similar market on the Bitstar exchange, which projects a much higher price for Bitcoin Gold futures right now, at 0.0718 Bitcoin per BTG.
It remains to be seen which of these two values comes closest to the real value of Bitcoin Gold once the currency is actually released. Futures markets never represent the expected value of trading vehicles whatsoever. Bitcoin Gold is still worth zero right now, as the coins do not exist just yet.
At the current valuations, one BTG would be worth anywhere from US$274.50 to US$438. That is a pretty wide gap, but it is to be expected for a currency that has yet to be released to the public. Considering how there will be a significant premine and there is no official “issuance” of coins whatsoever, it will be interesting to see what value people are willing to attribute to Bitcoin Gold in the long run. Moreover, it remains to be seen how the mining situation for BTG will evolve.
In the end, there are plenty of people who would love to get their hands on BTG sooner rather than later. Moreover, it is good to see some support for Bitcoin Gold right now, even though it will probably end up being the lesser of all Bitcoin “forks” in the future. Then again, there are no guarantees in the world of cryptocurrency, and things are always subject to change.