Bitcoin Gold price analysis: BTG/USD spikes 15% as South Korea-based Bithumb increases BTG liquidity

“Bithumb Korean exchange adds abundant liquidity to the $BTG Market,” Bithumb team.
Bitcoin Gold is not slowing down, it could brush shoulders with $30.0.

John Isige FXStreet

Bitcoin Gold has joined the likes of Bitcoin Cash in the mid-week surge. Both of these assets are enjoying support from different parts of the world. Bitcoin Cash, on one hand, is up 13% on Thursday on the largest Bitcoin (BTC) miner, Bitcoin IPO. On the other, Bitcoin Gold has jumped 15% on the day following the announced that South Korea-based Bithumb exchange has increased BTG liquidity.

The news was shared by Bitcoin Gold team on their Twitter account and reads:

“Bithumb Korean exchange adds abundant liquidity to the $BTG Market, showing Korean investor's confidence! -Available pair: BTG/KRW -Trading Fee: 0.15% -Advanced trading tools and charts.”

Bitcoin Gold price has broken out of the stubborn resistance at $23.00. The gains have extended above $26.00 in two successive engulfing candles. Nonetheless, it appears that Bitcoin Gold is not slowing down and is headed for $27.00 in the short-term. The crypto is also trading above both the 50SMA and the 100SMA. The trend is strongly bullish and $30.00 is within reach in the medium-term. A support above $26.00 will be instrumental to the buyers as they stage the next journey to $30.00 and beyond.

BTG/USD 60-minutes chart

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Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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