Bitcoin Private (BTCP) And Bitcoin Gold (BTG): Why The Latest Developments Are So Important?
Bitcoin Private (BTCP)
The last two weeks have been tough on BTCP as prices have slumped. The coin isn’t out of the woods yet, but the overall sentiment in the community is that the future couldn’t be any brighter. And it could be right to be optimistic about this coin.
These events indicate that we can expect the value of BTCP to correct upwards later in Q2 and 2018 in general.
Rhett Creighton is out
Rhett Creighton is no longer able to influence or for that matter negatively impact Bitcoin Private. The Zclassic founder left to lead the BTCP team after forking Bitcoin and Zclassic. But now he has been kicked out of the team for suggesting another fork of Bitcoin.
Rhett tweeted last week that another fork of BTC with Primecoin would be big, something that led to the rest of the team ousting him and kicking him out. Now it appears he was a negative influence on the team. The community applauded the team’s swift move to remove Rhett, saying it allowed them to focus on developing the platform by focusing on the roadmap instead of another fork.
Listing on HitBtc and Binance
An update on the BTCP Reddit platform confirmed that the privacy coin could be in line for a listing on HitBTC sometime later. In the update that lists what the team expects for this week, including the concluded AMA, it’s added that:
“HitBTC reached out this morning to reaffirm their intention to list. The exchange listing team continues to work hard to bring BTCP to more marketplaces.”
This should be good news for BTCP bearing in mind that the coin is listed on three little-known exchanges that don’t give it much visibility. Getting on HitBTC could open the door for Binance to consider listing it.
The market sentiment for BTCP is going south at the moment. The coin is trading firmly in the red, slumping by -12% over the last 24 hours to lose $5 against the USD. Its price is $37, down from $42. Over the last 7 days, BTCP has dropped by -26%. However, it is expected the price will find an upside sooner or later, especially after the updated roadmap and AMA. Expect news today from the community update for week 9.
Bitcoin Gold (BTG)
Bitcoin Gold is a fork of Bitcoin that sought to make Bitcoin decentralized (again). The bone of contention related to the mining process and as such, BTG is one of the easiest coins to mine. The crypto has looked to be steadying itself of late, rallying to hit prices in the range of $77.
However, the market-wide price swings haven’t spared it either. Though there’s isn’t much planned short-term, long-term outlook suggests value increase.
What to look forward to in Q2?
After hitting the road in Q1 with integrating open source libraries for BitcoinJS and CoPay, the team sought out collaborations with universities and academic centers on how to make the BTG platform more decentralized.
Q2 has three great milestones that could make the BTG crypto an attractive project capable of getting adopted globally. Apart from the P2Pool decentralized mining, the team has their work cut out in integrating Lightning Network for scalability and off-chain transactions. They also seek to have payment systems integrated into the platform- specifically having a debit card program.
BTG to be listed on Poloniex
Bitcoin Gold is listed on some of the largest cryptocurrency exchanges, including Binance, Bittrex, Upbit, Bitfinex, and HitBTC. However, some supporters have expressed a desire to see it on Poloniex and the team has suggested work is in progress to have it listed.
This comes on the sidelines of the Seoul Coinnest meet-up that featured BTG. Even though the crypto is listed on over 46 exchanges, its daily trading volumes aren’t great. And so getting on Poloniex might not change much unless serious marketing takes shape.
Bitcoin Gold is one of the Bitcoin forks that could go on to carve space for itself in the crypto market. Its value has dipped in the past few days, dropping by -9% in the 7-day charts to trade at $72 against the USD. However, on the back of a positive meet-up in Korea, the coin is expected to gain in value as more people take notice. The coin is today trading +3% higher over the last 24 hours. Experts believe it could hit $100 market price in this quarter.