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Price Analysis

Bytecoin (BCN) Price Analysis: Recovery In Price After Hard Fork

Bytecoin underwent non-contentious scheduled hard fork. The prospect behind the hard fork was to refine the Bytecoin platform. The development focused on numerous updates like creating, restore and backup for HD wallets, unlinkable new addresses, block size adaptation, creating wallet history in blockchain and many more.

The prospective feature of the hard fork is aimed to meet the expectation of Bytecoins, which were long awaited like the gateway project, hidden amounts, and the plans mentioned on the roadmap.

Bytecoin CMO Jenny Goldberg quoted in an interview: We have many of our future plans were dependent on the completion of hard fork reform. We feel that with the developments we’ve got coming to this next stage for the platform will be marked by expansion and positive growth.

The development will reflect its prospect in the coming week on the cryptocurrency price chart. Let’s take a look at the charts of Bytecoins.

Current Bytecoin Price Statistics:

The BCN price chart is from Trading View, 04:46:04 UTC, taken for price analysis.

Bytecoin price chart

 

  • The Bytecoin is at 51st rank.
  • The market cap as on 25th May 2019, 05:52 UTC is 176,980,229 USD.
  • The circulatory supply is 184,066,828,814 BCN and total supply is 184,066,828,814 BCN.
  • The Bytecoin price is at 0.000961 USD.
  • The ROI of BTC is 1,371.95%.
  • The 24hr volume is 648,641 USD.

The charts reflect a steady improvement in the movement of BTC coins since 17th May. This is the same day when Bytecoin underwent hard fork. The price touched a high of 0.001021 USD and a low of 0.000866 USD with a 14.92% regression.

However, there was a slight improvement in the fall on 20th May. It dropped by 7% by touching a high 0.000986 USD and a low 0.000916 USD. On 24th May, the charts reflected a recovery by 4%.

Comparison:

If we compare 25th May 2019, at 06:02:26 UTC, the price which is 0.000961 USD with the price of BTC ranging a month ago, i.e., on 30th April 2019, which was 0.000831 USD. The stated numbers show a hike of 15%.

A steep is clearly registered in the Bytecoins price, and the future business ventures also reflect that the investment in the coin would result favorably.

BCN Price Prediction:

As the CMO of Bytecoin stated that they are looking forward to an expansion in the coming year. Hence, it is anticipated that the price on the crypto market will blossom great returns.

By the end of 2019, the Bytecoins can touch $20. However, in the next two years, it can rise by 4% – 5% of its present price.

Conclusion:

Bytecoin price is moving forward with new advancements and brand new features. The investors and analysts are gazing at the charts after the last upgrade.

People looking for a long term investment can definitely go with Bytecoins as the charts suggest promising results in the future.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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