The benefits of decentralization have been an essential catalyst behind the increasing prominence of cryptocurrencies. The level of security and privacy offered by digital assets has saved innumerable users and investors. Bytecoin is one of those projects that focuses on the privacy and security of users.
Bytecoin was the first to implement the CryptoNote encryption algorithm in its space. Blockchain offers global, instant and private transactions that require no fees and are not traceable. Attracted by the fundamentals, but skeptical of its possibilities? Don’t worry as this article will cover plausible predictions for 2022 and beyond!
Observation
cryptocurrency | bytecoin |
token | bcn |
cost | $0.0000731 |
market cap | $13,454,885 |
circulating supply | 184.07 B BCN |
trading volume | $17,211 |
all time high | $0.03013 |
All time low | $0.000000561 |
less likely | Average price | potential high |
$0.000149 | $0.0001974 | $0.00023417 |
Bytecoin started the year 2022 while in a downtrend and was priced $0.0002368, After the sell-off in the market, the fall further increased, which dragged the price up to $0.0001913 until 22 January. After being deposited in the range by 3rd February. altcoin rises to $0.00024 until 4 February. The lack of strength in volumes failed to help keep the prices at the levels.
Moreover, tense trading conditions pulled the altcoin down. $0.000153, Digital assets managed to climb $0.00017 till February 27. With traders taking out profits, the price fell to its multi-month low $0.000127 until 9 March. A steady uptrend that began on March 19 led to the close of the quarter $0.000159,
Q2. Price forecast for Bytecoin (BCN)
The digital asset has fallen to its support level $0.00007936, Down about 50% since the start of the quarter. If the digital asset welcomes a trend reversal with bullish volume, the price could rise to its quarterly highs. $0.0001109,
Conversely, if the bears continue to dominate the area, the price could decline. $0.0000711, may settle at the mean value, constrained by linear propulsion $0.00009435,
Q3. BCN forecast for
Along with stabilizing market sentiment, fundamental forces such as non-traceable payments, unlinkable transactions, and scalability could attract collaboration and adoption. If implemented, the price of the altcoin could rise to the maximum $0.000165,
Conversely, if the protocol fails to attract crowds, the price may fluctuate. $0.0001098, That said, regular trading pressure can drive the price down. $0.000137,
BCN prediction for Q4
Fourth quarter optimism, and fuel coming from a potential bull run. can take the BCN to its annual high $0.00023417, Conversely, if the protocol becomes the victim of negative criticism and liquidation. price may drop $0.000149, Can settle on average price, keeping bullish and bearish target in mind $0.0001974,
Bytecoin Price Prediction for 2023
If the crypto project employs development to empower its network, and take initiatives to strengthen the community. BCN price may rise to max $0.000446, However, a potential financial crisis or regulatory action could push the price down. $0.0002332,
bcn price prediction for 2024
Bytecoin could invite luck if it manages to boost its user base as well as attract institutions and whales. In such a case, the price of BCN may rise to its potential higher. $0.000807, Conversely, if the bears outpace the bulls, the price could slide down $0.000445,
2025. price trajectory for
With the development of the crypto platform, Bytecoin can enhance its transaction features for the betterment of the users. The rising prominence of digital assets could drive the price up $0.00162, However, emerging rivals and stiff competition can bring it down $0.00078,
Year | less likely | potential high |
2023 | $0.0002332 | $0.000446 |
2024 | $0.000445 | $0.000807 |
2025 | $0.00078 | $0.00162 |
What does the market say?
digital coin value
According to Digital Coin Price, the price of BCN can reach a maximum of $0.000107 by the end of 2022. Whereas a change in trend could take the price to at least $0.0000957. Buying and selling pressure can bring the equilibrium price to $0.0000998. The firm also puts out a longer-term forecast, expecting BCN to hit a maximum price of $0.000165 by the end of 2025.
trade animals
As predicted by Trading Beasts, BCN may close this year with a potential high of $0.0001394. The firm’s analysts predict that the altcoin will rise to $0.0001994 by the end of 2023. and a maximum of $0.0002849 by the end of 2025.
Priceprediction.net
The website estimates that the digital coin will reach a maximum of $0.000127 by the end of 2022. The firm has pinned the minimum and average probabilities at $0.000109 and $0.000113. According to the firm’s analysts, BCN is projected to reach a maximum of $0.000385 by the end of 2025.
Click here to read our price forecast for Verge (XVG)!
What is Bytecoin?
Bytecoin has been an open source private, decentralized digital currency that enables users to participate in the network creation of Bytecoin. Security and privacy are usually the keeper of the network. And it can facilitate the best service for those who want to keep their transactions private.
The open-source blockchain is run by multiple network nodes around the world. Furthermore, the platform uses the ring signature to combine different outputs of the same value into a single trade. The main goal of the platform is to build a new, better and more efficient financial system. It enables faster and more professional services for its holders at a reliable cost.
fundamental analysis
Launched in July 2012, Bytecoin is a private, decentralized cryptocurrency with an open-source code that is untraceable. One of the popular cryptocurrencies Monero (XMR) shares a history with Bytecoin as it is a hard fork.
Adhering to the principles of being self-regulated, open to any development, and egalitarianism. BCN aims to provide privacy and security for those who wish to keep their finances private. Bytecoin was the first project to implement the Kryptonnote encryption algorithm. Bytecoin is completely anonymous. Its algorithm includes ring signatures, unrelated transactions, and hidden addresses.
The supply of BCN is limited to over 184 million and all coins are minted and put out for supply. No doubt the platform was surrounded by some rounds of negative flaws. However, the ecosystem worked hard and made several announcements, updates, and new partnerships.
Our Bytecoin (BCN) Price Prediction
The bitcoin price has been under bearish dominance over the past two years. While the platform intends to enhance security, publicly viewable deposits and interoperability in the coming days. The price of BCN will rise and shine if it acts to further strengthen these factors.
According to Coinpedia’s Formulated Bitcoin Price Forecast. The network needs to find the momentum that will drive the price above the previous levels drastically. On a positive note, the price of BCN could reach the maximum $0.0002 by the end of 2022. However, falling prey to FUD could cause digital assets to fall $0.00015,
historical market sentiment
2014-16
Bytecoin was first introduced in the year 2012, it was not worth it at that time. Later, it was launched on 17 June 2014. As soon as it was listed on some cryptocurrency exchanges, Bytecoin started trading at $0.000061. BCN continues to trade at the same price with some volatility for the years ahead.
2017
In 2017, the price increased dramatically to $0.003 by the end of May as it was registered on 30 different cryptocurrency exchanges. Later, the price started declining as it failed to maintain its resistance level. BCN reached $0.0023 in early September. The price started increasing. BCN managed to reach $0.005 at the end of 2017.
2018
With a bullish trend, BCN traded at $0.017 in early January 2018. Further, the price started to decline as it reached $0.002 in early April. Later, the price surprisingly rose to $0.011 by mid-May as BCN was listed on Binance. By mid-December the price fell further to $0.0005. With a slight correction in price, BCN ended the year 2018 with a trading price of $0.0007.
2019
BCN continued its trade during the beginning of 2019 with a price of $0.0007. The price continued to trade between $0.0007 and $0.0009 for several months. Shockingly, by mid-December the price of BCN dropped to $0.0002. BCN traded at $0.0002 at the end of 2019
2020
BCN started the year 2020 at $0.0002 as the bears continued to drag the market. The price continued to correct and BCN reached $0.0004 at the end of February. In March, the price of BCN began to fall steadily. By the end of March BCN reached $0.0002. With a definite downside, BCN was trading at $0.00013 at the end of December 2020.
2021
Bytecoin started the year 2021 with a trading price of $0.00016. and increased to $0.000786 by mid-February. While a dip was interrupted, the bullish momentum remained intact. Therefore, the price rose to $0.001025 by the beginning of April.
The altcoin failed to show any significant price change in the second quarter. The price of BCN hovered between a range-bound scale of $0.0005 to $0.0008 during the quarter. Altcoins showed comparatively high volatility during the third quarter. However, the altcoin failed to gain enough strength around higher price levels. The price of BCN is trading between $0.0004 to $0.001394.
The fourth quarter started with a price tag of $0.000274. The digital asset remained in a narrow range until October 29, and then rose to $0.000462 in a single day at the end of the month. The price of BCN was falling continuously throughout the month of November. Whereas December started on a positive note with a price tag of $0.000396. However, the valuation of BCN declined by 38.5%, bringing the price to $0.000243 by the end of the year.
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general question
A: Bytecoin is a private decentralized cryptocurrency, which is an open-source protocol. This allows everyone to participate in the development of its network.
A: Yes, considering the fundamentals, Bytecoin can be a good investment for the long term.
A: Bytecoin can be traded on Coinex, Poloniex, HitBTC, Gate.io, and many other exchanges.
A: The price of Bytecoin is expected to reach a maximum of $0.00023417 by the end of 2022.
A: The price of BCN can go up to $0.00162 by the end of 2025.