Bytecoin (BCN) Price Analysis: Does Bytecoin Still Have Room To Improve? Wednesday, October 3
Bytecoin Price Analysis; Does Bytecoin Still Have Room To Improve?
The crypto market is made up of over 2,000 cryptocurrencies and investors are spoilt for choice. It is an investors job to tell the best from the good and the good from the bad. This could take days of research, and we all know time is money- in the case of cryptocurrencies the saying is literal, prices change in minutes. Fortunately, market numbers never lie. If you can just follow the numbers, then you can just hit payday.
So, Let's Follow The Numbers For A Minute
Like many coins on the market, BCN entry was low and subtle, trading at just $0.001284.
This was at the end of October of 2017. During the following months, it continued to steadily climb and on Christmas, it had set an all high of $0.007438. On boxing day, the price quickly corrected back to $0.005913. But, what followed on the first day of the new year no one could have predicted, prices shot up and by the sixth day of the first-month, Bytecoin had hit its all-time high of $0.016332. During this time the coin had a market cap of over $2 billion.
The bullish market was followed by a bearish momentum that saw the prices dragged to $0.002020 in April. This marked a four-month low. Following that bottom, was a full-on bullish market. By May 08, the bullish market had pushed the price to a new resistance level of $0.013542. This was a reaction to a new listing on Binance crypto exchange. This marked a price surge of more than 500% in less than a month.
This just goes to show how much potential the coin has and the amazing performance the coin can achieve. And while there was much speculation of the surge being a pump and dump, the Bytecoin team was quick to respond saying they had everything under control.
In recent months the coin has been dropping and at the time of press is trading at $0.002234. What the charts show us is that triggered by a single positive news, this coin could soar to new highs in days and its potential remains largely untapped.
BCN/(USD, BTC) Price Chart, Wednesday October 3rd:
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