The cryptocurrency market is currently in a state of flux, with coins like Bitcoin and Ethereum struggling to maintain their value. One coin that has seen an increase in price over the past 24 hours is Bytecoin (BCN), which has increased by 180%.
The bytecoin code is a cryptocurrency that has seen a price surge in the past day. It has been up over 180% in the past 24 hours, and people are wondering if this is because of data inaccuracies.
2 minutes ago | 4 weeks ago
News about altcoins
- The price of Bytecoin (BCN) has risen by almost 180 percent in a single day.
- BCN, one of the other crypto data aggregators, is showing a negative trend.
According to CoinMarketCap, the price of Bytecoin (BCN) has increased by almost 180 percent in a single day. CoinGecko, CoinCheckUp, and TradingView, among other crypto data aggregators, indicate that BCN is in a negative trend.
At the time of writing, the BCN price was $0.0009614, with a 24-hour trading volume of $82,208, according to CoinMarketCap.
Price of Bytecoin (BCN) (Source: CoinMarketCap)
Bytecoin (BCN) is a private, decentralized digital asset with an open source code, according to its website. Furthermore, the project’s primary goal is to make transactions quick, anonymous, and untradable. Bytecoin, in particular, is the first initiative to use CryptoNote technology.
Furthermore, it is secure due to the use of ring signatures to protect a sender’s identity and an unlikable address to prevent blockchain analysis. Furthermore, BCN promises to have a block time of 2 minutes and adaptive settings that have been designed to make mining easier.
@elonmusk I hope that more people were interested in bytecoin (bcn). It has existed since 2012.
July 19, 2021 — Yusuf Temideni (@staykamworld)
Elon Musk was referenced in a tweet by cryptocurrency aficionados. ‘How I wish more people knew about bytecoin’ (bcn). It has existed since 2012.’
BCN Price Drops in Data, Showing Bearish Trend
Despite the fact that the price of BCN has risen. CoinGecko, CoinCheckUp, and TradingView, among other crypto data aggregators, indicate that BCN is in a negative trend.
Descending Scallop Pattern BCN/USDT (Source: TradingView)
A descending channel pattern can be seen in the price chart above. In a falling wedge pattern, this price pattern produces lower highs and lower lows. As a result, a significant price reversal may occur, propelling BCN to new heights.
Furthermore, this suggests that CoinMarketCap’s claim that BCN has increased by over 180 percent is false. Overall, with the forthcoming improvements and advancements, BCN has a bright future in the crypto world.
Disclaimer: The views stated in this article are entirely those of the author. It should not be construed as investment advice.
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The tlm coinmarketcap is a website that tracks the prices of cryptocurrency and other digital assets. It has been known to be inaccurate at times, and there have been many cases where coins have sky rocketed in price.
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