AltcoinCryptocurrencyPrice Analysis

Bytecoin will go down beside its current Surge of 19% in a single day

Bytecoin is outshining all other altcoins including the bitcoin in short term bull run. The coin has performed outstandingly in the past 24-hours as it has surged by almost 19%. Despite its low ranking by market volume, it is moving upward and is stepping towards upward ranking.

The 4-hours chart of the token shows how the trend line moves abruptly today as a straight line is becoming in the upward direction. The same pattern has been observed yesterday when the trend line was triggered by 19%. However, the volume is not in a surging position which is not a productive sign for the fate of token in the next coming days.

Bytecoin Price Value

The price value of Bytecoin is standing at $0.00034 at the time of writing. The ROI value of the BCN is 423.11% which shows that it has not saddened its traders and investors.

Bytecoin Statistics

The market capitalization of BCN is standing at $62,882,230 USD while the volume traded in the last 24-hours is hovering around $13,242.67 USD. There are almost 184,066,828,814 tokens are in circulation out of 184,470,000,000.

ALSO READ  Bitcoin Above 20-day Moving Average but Still Bearish Trend is Intact

Bytecoin Comparison

The monthly performance of the Bytecoin is not very good as the price dropped from $0.0004 to the current position of $0.0003. However, the value slumped slightly but it makes a lot of difference. One thing which is the characteristic of the token is that its volatility behavior is very high.

The weekly data shows that the trend line has not shown instability but overall remained stable throughout the week. However, yesterday’s pattern is somewhat similar to today’s ones.

Bytecoin Price Prediction

There are chances that it will touch the mark of $0.0005. But the current resistance level which is hedging the current price value will drop the price value and red candles might be seen.

News and Events

There are various coins in the markets which are using the name of Bytecoin. So, the official platform of Bytecoin published the list for buying and selling.

As per the official tweet:

Dear Community! We’ve found a lot of suspicious companies that have similar names to Bytecoin. We want to remind our users that you can find the list of where you can buy/sell Bytecoin in the ecosystem section on our site.

Conclusion

Bytecoin is known for its volatility, which is more than Bitcoin. The BCN coin shows many ups and downs. It is expected that price may go down as straight line in upward direction is signaling clearly which is considered an odd behavior.

ALSO READ  Bitcoin is Set to Become the Next Global Reserve Currency

Leah Hutton

Leah Hutton has recently joined Tokenhell team as a freelance writer. She has comprehensive knowledge of blockchain and various cryptocurrencies.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Subscribe For Latest Airdrops

Signup and get notified when we publish new airdrops so that you never miss another airdrop again.




Close