Bonk Price Prediction as Meme Coins Bounce After Sell Off Is Now the Time to Buy?

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One of the popular cryptocurrencies Monero (XMR) shares a history with Bytecoin as it is a hard fork. Bytecoin has been an open-source private, decentralized digital currency that enables users to participate in the network building of Bytecoin. And it could facilitate the best service for those who wish to keep their transactions private.

Bytecoin Price Forecast Based on Technical Analysis

The emergence of new blocks slows down over time, so the Bytecoin rate in relation to the dollar, euro, and other assets will inevitably grow. Accordingly, investments in mining or directly buying coins are beneficial, since in the future the price of the cryptocurrency will only increase. Of course, with the rise in the price of this digital asset, the market situation will change, as will the attitude of users towards BCN. It is possible that the next stage of growth of the cryptocurrency market will soon take place and we will see the rise of the byte to the top of the ranking of the most expensive cryptocoins.

Bytecoin Technical Features

If you recall, the top exchanges listing caused the price of this coin to jump to $0.018 and its market cap to go over $3 billion before the issues began. The “private and untraceable” Bytecoin apparently wasn’t prepared to handle this much of an investor interest, as the network “crashed” with no explanation immediately after this massive price spike. No one was able to withdraw or transfer their BCN tokens and the panic kicked in.

What will be the lowest price of Bytecoin in future?

All content on CaptainAltcoin is provided solely for informational purposes. It is not an offer to buy or sell any security, product, service or investment. Really hard to see any reason to list here – it is a privacy coin with no innovation, dissipated community, anonymous and ostensibly inactive developer team. There are much better options to use for the privacy concerned users in Monero, Dash and ZCash. Unlinkability is one of two primary transaction data privacy goals for Bytecoin, the other being untraceability. Bytecoin believes Bitcoin does not sufficiently, if at all, meet these privacy requirements, and they aim to build a protocol that does.

The highest price ever recorded for BCN was $0.0185, which we consider to be a key level for the price of Bytecoin to potentially return to in the next bull run. XMR Stak is a commonly-used mining tool that works for CPU mining and GPU mining with both Nvidia and AMD graphics cards. CCMiner is another popular mining tool for computers with NVIDIA graphics cards. In addition to having mining software, you will need a ByteCoin and access to a mining pool that pools your effort with other miners and a wallet to store the ByteCoin that you earn from mining. Most cryptocurrencies have multiple publicly-available mining pools that can be found with a simple Google search.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 51.24, which indicates that the BCN market is in a neutral position. Such growth will speed up once financial markets gain a strong suspicion that the Fed will cut interest rates, which have so far remained at high levels this year. Such momentum should carry the meme token for several more days yet, with the coin’s volume only just beginning to recover. To store purchased or mined cryptocurrency, users usually use the official Bytecoin wallet, available for download on the project’s official website in the download section. In addition to these cryptocurrency exchanges, BCN trading is available on Poloniex, Crex24, Stocks Exchange, TradeOgre, Cfinex, etc.

  1. Moreover, in the case of using a computer, the power is above average, you can receive up to 1.5 thousand coins per day.
  2. Following the landmark approvals of Bitcoin ETFs, there has been a noticeable surge in interest from both retail and institutional investors, signaling a robust period of growth and acceptance for digital assets.
  3. DOGEVERSE will operate on Ethereum, Polygon, BNB Chain, Solana, Avalanche, and Base, a multichain feature that supporters will drive prices in 2024.
  4. A good charting tool is a must if you want to try yourself out as a day-trader.

Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase.

But trading volumes are very low here, so it is better not to take risks and work with large, reliable sites. The best crypto exchanges where you can buy Bytecoin today are Binance and HitBTC, since they have the largest trading volume, and therefore always have a good rate and high liquidity. Initiated in July 2012 Bytecoin is a private, decentralized cryptocurrency with an open-source code that is untraceable.

The Bytecoin cryptocurrency is an independent project that is developing in isolation from bitcoin and altcoins based on this currency. Price prediction is significant for investors when considering investing in cryptocurrencies like Bytecoin. If investors can understand the possible future price of a coin, it helps them decide whether or not to buy the coin now and for how long to hold it.

Analyzing monthly performance data, can help to identify patterns, market cycles, and potential opportunities for buying or selling an asset. It is important to note, however, that past performance does not guarantee future results and that cryptocurrency prices are notoriously volatile, making accurate predictions difficult. Some traders try to identify candlestick patterns when making cryptocurrency price predictions to try and get an edge over the competition. Some candlestick formations are seen as likely to forecast bullish price action, while others are seen as bearish. Moving averages (MA) are a popular indicator in all financial markets, designed to smooth price action over a certain amount of time.

Considering current bearish trend in Bytecoin price movements, it is expected the cryptocurrency will continue meeting price decline. Please, invest wisely and don’t forget to DYOR when investing in any type of asset. The Bytecoin price prediction on CoinCodex is calculated using the historical Bytecoin price dataset, accounting for past volatility and market movements. In addition, the algorithm uses the cyclical nature of Bitcoin halvings, which introduce extra supply-side pressure on BTC every 4 years.

Get latest crypto prices, predictions,news, and historical data for Bitcoin and thousands of altcoins. The three technical indicators used in the BCN/USD report the most commonly are moving averages, oscillators, and pivot points. Bytecoin traders use a variety of tools to try and determine the direction in which the BCN market is likely to head next. These tools can roughly be divided into indicators and chart patterns. The RSI (Relative Strength Index) is a very popular technical indicator used to analyze prices of a variety of assets, including Bytecoin.

This is likely to prove a bargain, at least when judging by other meme token launches this year. Investors are clearly interested in the possibility that it could become the latest Solana meme token to outperform much of the market once it lists, following in the footsteps of BONK and WIF. BONK is likely to rise in step with the wider market, which after a difficult couple of months (relative to the highs of early March) is looking ready to return to growth.

Therefore, Bytecoin is not suitable for those who want to get profit from investment activities in a short time. Bytecoin (BCN) now rightfully bears the status of one of the most promising digital crypto assets, providing complete anonymity and security of funds. The cryptocurrency Bytecoin appeared in 2012, a well-known cryptocurrency enthusiast working under the nickname “amjuarez”.

The readings produced by the RSI indicator range from 0 to 100, with 30 and 70 being important levels. An RSI reading under 30 indicates that the asset is currently undervalued, while an RSI reading above 70 indicates that the asset is currently overvalued. The year 2023 has been eventful for Bytecoin, prompting a simplified price prediction categorized into short-term and long-term expectations. The current trading volume for Bytecoin has increased by +4.27% over the past 30 days.

The business community should note that the main advantage of this coin is the availability of protection against payment refunds. The algorithm of the currency was thought out in such a way that the risks of refunds from buyers were minimized. Since 2017, DigitalCoinPrice has become one of the trusted brands within the crypto community. This success award goes to the combination of people, accurate crypto market analysis and data, the latest news, latest blogs, advertisement placements, and many more. Yes, Bytecoin price will increase according to our predicted data in future. Bollinger Bands are often used by traders to identify potential entry and exit points for a trade.

The open-source blockchain is run by a multitude of network nodes across the globe. Moreover, the platform makes use of Ring signatures to bridge different outputs of similar value into one trade. The core goal of the platform is to build a brand new, improved, and more efficient financial system. That enables faster and more professional services at a reliable cost for its holders.

The price of Bytecoin (BCN) is calculated in real-time by aggregating the latest data across 3 exchanges and 6 markets, using a global volume-weighted average formula. Bytecoin will reach bcn coin price prediction $0.0000 in the next 90 days, which is a 58% change over the current price which hovers around $0.0000. The current Bytecoin sentiment is bearish according to our technical analysis.

Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them. It has no first mover advantage, it brings no unique value proposition, it has a weak team and small community behind it. All of this summed up prevents Bytecoin to succeed and rise in price for the long-term. Our forecasting model sees Bytecoin price crashing and dropping to near 0 in a distanced future.

In this case, we can say with confidence that the mining of Bytecoins is a promising event because if the quotes of this currency grow, the crypto-miner will be able to get a profit. This is a short-term price prediction/forecast, includes only the next 10 days, updated every 5 hours. Founded in 2013, Bitcoin Wisdom strives to provide informative and accurate bitcoin news, price predictions, investing guides and exchange reviews.

Proper research and understanding of these risk factors are necessary before investing in Bytecoin. The supply of BCN is limited to more than 184 million and all the coins are minted and out for supply. No doubt the platform was surrounded by some rounds of negative flaws. However, the ecosystem worked hard and rolled out many announcements, updates, and new partnerships.

If the BCN price moves above any of these averages, it is generally seen as a bullish sign for Bytecoin. Conversely, a drop below an important moving average is usually a sign of weakness in the BCN market. Moving averages are among the most popular Bytecoin price prediction tools.