Price Analysis

Bytecoin (BCN) Price Analysis: Bytecoin Could Give 155% Return In 2019

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Bytecoin is one of the oldest cryptocurrencies still trading at the 52nd position having the price (USD) 0.00096008 from a low of 0.000006 in 2014.

Approximately one year back on May 8, 2018, it touched its peak of 0.030134 and trading -97 % below it now.

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2019 started recovering from its one year low of 0.000502 on December 15, 2018.  It was range bound between 0.000550 to 0.000750 and began to trade above 0.000800 from April 1.  It went to a three month high of 0.001173 USD on May 16.  Again it started falling for the past 12 trading sessions to the current price with a loss of -23.95 %.  It shows its bearishness, and it will continue until it trades above the critical resistance level of 0.000950 USD.

May 28, 2019, Price Statistics of  BCN at 9:10 UTC:

Bytecoin Chart

Ranking in cryptocurrency list of Coinmarketcap – 52
Return of Investment (ROI)  – 1283.64%
Total Circulation  –  184,066,828,814 BCN
Market Cap in USD  –   164,175,621
Current Price in USD –    0.00096008
Current Price in BTC  –  0.00000010
24 hours traded volume –   307,576
25 days price change   –  (1.65%)

May 28 BCN intraday Price movements:

Opening today at 0.000903 going to a low 0.000868 is now trading at 0.00096008 USD. Until it cuts the crucial resistance of 0.000950, it will be range bound between 0.000850 to 0.000965. Once it passes this significant resistance, it may go up to 0.001000, which could be a rise of 12.10 % rise for the day.

Value comparisons and predictions of BCN:

Since the price of BCN is on the rise throughout 2019 from its all-time low in December last year, it could raise from its current price with strong fundamentals and with the help of mini bull run in 2019.

Once it falls beyond the price mark of 0.000965 USD, it may have the following price forecast:

Period                       Price                                   Change %
1 week                   0.001173                                31.50
1 month                 0.001310                                 46.86
1 year                    0.002275                                  155

Conclusion:

Since Bytecoin is one of the oldest digital assets and claiming to be the first project to implement CryptoNote Technology, it has its investor base. Its security is from using ring signatures to protect all senders’ identity, and their addresses are not linkable to prevent blockchain analysis, makes it still popular among blockchain users.  Also in a recent interview Bytecoin, CMO Jenny Goldberg has assured its traders and investors of many plans to be announced soon. Even a mini Bull Run in 2019 could take it to the above predictions with its strong and long investor base and reputation.

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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