Investors might be wrongly linking the lender together with the 2017 Bitcoin difficult disk, resulting in a spike in trading and price actions.
A long-forgotten Bitcoin (BTC) hard fork has soared nearly 200 percent per week -- only because traders are purchasing the incorrect altcoin.
A curious contrast to an otherwise lackluster cryptocurrency marketplace, Bitcoin Gold's achievement seems to be not entirely real -- but not the fault of its own holders or programmers.
While never having nothing to do with Bitcoin Gold, the largest Brazilian investment bank will not talk about the altcoin's ticker -- along with the coincidence was great enough for hungry buyers.
Following the Gemini news broke, Bitcoin Gold saw a flurry of need which in the time of writing reveals no indication of abating. This, reactions claimed, showed that the cryptocurrency sector was still very much in its nascent period.
"We are so early that folks purchase Bitcoin Gold BTG, since there's a new fund named BTG Pactual," podcast bunch Anita Posch cautioned Twitter consumers.
"No, it is not a less costly Bitcoin!"
By comparison, Bitcoin Gold announcing a genuine venture in late March did barely anything for cost actions.
Nothing related to Bitcoin
Contrary to their parent, these forks have achieved only limited success. Since Cointelegraph lately reported, regardless of the extensive uptick coming through altcoins more widely, BCH, by way of instance, continues to eliminate significance in BTC terms.
A few of their proponents have embraced an aggressive marketing position that places the fork since Bitcoin itself, a deceptive movement that has probably also contributed to need.
Cointelegraph reiterates that purchasing Bitcoin Gold, Bitcoin Cash or some other cryptocurrency using a ticker aside from BTC usually means that you retains an altcoin, maybe not Bitcoin itself.