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Panic selling of BCN going on. Best time to buy Bytecoin

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Bytecoin Price experienced a huge downfall today as one of the biggest cryptocurrency exchanges Binance announced the delisting of BCN.

Bytecoin Price experienced a huge downfall today as one of the biggest cryptocurrency exchanges Binance announced the delisting of BCN along with 3 other cryptocurrencies in a tweet this morning:

 


This has created a huge FUD amongst the cryptocurrency traders and due to the massive amount of selling, the BCN price fell from 0.00000035 BTC to 0.00000026 BTC in just a few hours.

 

BCN BTC Price Chart 9 October

BCN BTC Price Chart 9 October

 

But many of the prominent cryptocurrency traders believe that this is undoubtedly the best time to buy BCN as just delisting from Binance would not make a huge difference in the future of Bytecoin. BCN market is facing huge selling but at the same time, huge buyers are also making large bids to buy BCN at this low price.

 

The following article is just an opinion of the writer and not any kind of financial advice to buy or sell digital currencies or any other commodities such as bytecoin. Cryptocurrency Markets are subject to market risks.

#Bytecoin

Bytecoin Forecast. The future for BCN after delisting from Binance and Okex

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One of the leading cryptocurrency exchange, Binance issued an official statement marking the delisting of Bytecoin from its list.

Understanding the potential of Bytecoin, despite its hard times.

Why would a cryptocurrency fail?

One must understand very firmly that all the ebbs and flows are a part of its daily operations. When a particular cryptocurrency has a fundamental use case and even performs really well, then it is absolutely inevitable for it to remain away from unpopularity. On the other hand, when a crypto coin doesn’t seem to be performing well due to various unwritten reasons, it must not be disregarded but must be considered as an opportunity for the community members to help the Blockchain project sustain its hard times. it is also the responsibility of the developmental team, to constantly upgrade the protocol in order to meet the growing requirements. Feeling to which might cause the project to slide away from the crypto race.

 

What is Bytecoin? Is it safe?

Bytecoin was the first cryptocurrency based on the Cryptonote technology, predominantly incorporated for their anonymous transactions. It was very different, as it wasn’t any form of the hard fork from previously existing coins. It has been incorporating the Ring signature technology to hide the transactional details from an external personal. Also, the mining operations are carried out, to generate new Bytecoin tokens. Also, miners take part in the mining operation but even they have no access to the financial transactional information of a transaction as the information is concealed through cryptographic principles.

 

Delisting of Bytecoin from Binance

The cryptocurrency coin was listed on various exchanges throughout the world. But due do to some technical issues, on October 9th, 2018, one of the leading cryptocurrency exchange, Binance issued an official statement marking the delisting of Bytecoin from its list. The other cryptocurrency in the list, which were to be discarded by the exchange operations were ChatCoin, Iconomi, and Triggers. This particular move greatly affected the price of BCN, as it created a negative FUD in the market. According to information, it is well known that Binance was one of the leading providers of market liquidity to BCN as it was mostly traded in it.

 

Delisting of Bytecoin from Okex too

The delisting of Bytecoin from the exchange isn’t viable, as it has such a negative impact on the community. More recently, even Okex has been following the footsteps of Binance and announced that even they would be delisting Bytecoin from its operations too. The actual event took place on 11 AM UTC on October 12, 2018. Even the customers were advised not to undertake any form of Bytecoin transactions. Otherwise, all the orders would instantly be canceled and rejected by the system automatically. This particular exchange cited the incapabilities of the developmental team and said that despite critical bugs in the cryptocurrency, the developers haven’t corrected it. Therefore, in order to avoid any kind of losses to their customers, the exchanges have taken this decision.

 

It wasn’t viable to undertake such decisions

Typical bugs do exist in many cryptocurrencies, but instead of giving a chance to the Development team, to rectify the protocol, the Exchanges must not delist them as such. Bytecoin was very much renowned for its anonymous Transactions and was also one of the key coins, to be accepted by various porn websites as a payment method. The Bytecoin community is very supportive in nature, which wouldn’t affect the value of Bytecoin much. The coin is still available to be traded on HitBTC and Poloniex which have understood the future potential of the cryptocurrency coin.

 

The supportive attitude of the community

The community members also expressed their unhappiness on Twitter. But soon after the delisting, the members of Bytecoin approached the Exchange representatives, in order to clarify the issue. However, after consistent efforts, the members of Binance reassured to list Bytecoin back within its operations. This marked a great sigh of relief for all the Bytecoin enthusiasts. This incident clearly directs at the future of Bytecoin, as it still entails immense potential.

 

What’s the future of Bytecoin?

Apparently, the coin is highly appreciated by the experts, as it has managed to sustain tough times. The team members are very positive about their project and hence has not come forward to speak in order to negotiate with the members of Okex exchange. The coin would certainly regain its popularity and respect, among the cryptocurrency space.

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Crypto Market Crashes, More than $15 Billion dumped in just a few hours

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The crypto bears dumped more than $15 billion. Crypto market has plunged over the recent hours to drop steeply near $200 billion and their yearly lows.

Market Bleeds, Top players fall up to double digits

The crypto bears dumped more than $15 billion. Cryptocurrency market has plunged over the recent hours to drop steeply near $200 billion and their yearly lows.

Bitcoin played the pied flute player driving the drop when it fell through key support at $6,550 an hour or two back. BTC is right now down 5% on the day and falling, its present price is $6,300. A greater dump sought Ethereum which has lost 9% dropping its levels back to $205.

Like the computerized lemmings that they are, the altcoins predictably went with the same pattern and the best twenty is an ocean of red at this moment. In the main ten, XRP is the greatest failure with a fall of more than 11% to simply above $0.420. Bitcoin Cash is a nearby second, likewise dropping 10% to exchange at $460. The rest have lost somewhere in the range of 7 and 9 percent in this most recent defeat.

Additionally down the chart is a bloodbath; Tron, Nem and VeChain are generally dropping 10-11 percent at the present time. The rest are all not doing so great as Particle, Neo and Tezos are for the most part falling 7-9 percent.

There is just a single altcoin resisting the drop right now and that is Aeternity which has made 8% on the day to exchange at $1.18. The dispatch of an ongoing Windows mining abundance could be keeping AE above water while each one of those around it are sinking. The greatest washouts in the best one hundred right now are Dentacoin, Noah Coin, MOAC, and Waltonchain all dumping 13-16 percent.

 

market capitalization

market capitalization chart

 

The market capitalization has declined 6.8% in the course of recent hours as they fell back to $204 billion. Over the most recent few hours, one major dive saw $15 billion wiped out from the crypto market as the bears beat them once more. It has been the biggest day by day dump for more than three weeks flagging that the defeat isn’t finished. Bitcoin dominance has crawled back up 53.5% as the altcoins bleed out once more

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#Bytecoin

Why bytecoin will definitely rise this year. Full Analysis

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Bytecoin is one of the most sorted out Blockchain platforms when it comes to privacy. Developed in the year 2012 has one of the fastest transaction speed.

The various optimistic frame of references leading to the success of Bytecoin.

Why is privacy in LimeLight?

Privacy in this Brave New World is really scarce. Almost all the electronic gadgets that we employ, in order to, carry out our personal or professional responsibilities, stands in between our privacy and us. All the conveniences, that are offered in this era is at the sole cost of security and privacy. We always tend to undertake the utmost private phone call in a public place, work on a confidential project on a public WiFi, the indirect consequence of which is directly reflected in the form of little mistakes to huge catastrophes. Ironically, it is we who have willingly chosen for such kind of a social environment where absolutely nothing is private in nature. Therefore, how can we design a solution to the problem that is created by us itself?

 

Bytecoin provides privacy in Crypto domain

Even in the cryptocurrency domain, most of the Crypto coins are privacy-focused and provide anonymous Transactions to its users for various applications. In particular, Bytecoin is one of the most sorted out Blockchain platforms when it comes to privacy. Developed in the year 2012, the Bytecoin project has one of the fastest Crypto transaction speed which takes only around 2 minutes for its confirmation. How can the developers reveal their identity when the core Idea behind the Bitcoin project is being anonymous? Therefore, until today the developers of the Bytecoin project has been anonymous to the entire world.  

 

Which consensus mechanism does Bytecoin apply?

The consensus is effectively achieved through the incorporation of the Proof of work, but interestingly unlike Bitcoin, the Bytecoin project allows the users to mine cryptocurrency by incorporating the basic CPU or GPU mining rigs. It doesn’t require expensive brute force computations that are used by the ASIC miners in case of Bitcoin. The total supply of the cryptocurrency coin is around 184,470,000,000 coins.  The Bytecoin developers along with the community were mostly dormant up to 5 years. It was only in May 2017, when the developers expressed some kind of activity in the project the price of the Bytecoin tokens started gaining momentum.

 

Factors supporting the development of Bytecoin

Many Crypto exchanges have listed Bytecoin and hence it is one of the most easily available cryptocurrency coins in the market. Specifically, the world’s leading Crypto exchange, Binance listed Bytecoin in May 2018, which would be a catalyst in the further propagation of Bitcoin as the daily trading volume of Binance turns out to be almost 2 billion dollars. The Bytecoin community has even confirmed that a hard fork is going to be initiated in 2018 which would indirectly make the network more robust and Secure. This might indirectly boost the economy of the ecosystem as developers are looking forward to entailing a dynamic fee system within the Bytecoin blockchain.

 

 

How will Bytecoin manage to overcome its competitors?

The prices of Bytecoin are usually expressed in decimal notation which is quite confusing, but it would be astonishing to know that the coin has Rosen rising by 2300% and further expectations are with it. Only the announcement of Binance listing, the coin price rose by almost 116%. This marks the potential of Bytecoin. Wait for the development of the project, as it is inevitable that the coin will experience a huge success in the coming future. Although, there are many other counterparts giving a tough competition to Bytecoin, like Dash, which takes only a few seconds for the transactional confirmation through its Instantsend protocol, the Bytecoin community through its robust and futuristic roadmaps, and in particular the event of the hard fork will overthrow all its competitors.

 

Is Bytecoin a good investment? Let’s find out

Bytecoin predictions are mostly based on assumptions as there are no hardwired rules to be incorporated in order to predict the future price of a particular coin. Mostly, the Bytecoin project through which effective decentralization would invariably gain a market dominance with respect to the privacy based coins. Investment in the cryptocurrency market, as such, is highly subjected to various unseen and uncontrollable factors. Therefore, everyone is advised to do their personal effective homework regarding the cryptocurrency project and must invest only the amount that they are willing to shell out.

 

Note: This article represents only the opinion of the writer. The article is not, in any way, an investment advise. All cryptocurrency investments are risky and you should do your own research and analysis before buying or selling any digital assets including BCN.

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