Bytecoin (BCN) – A random update here and there will not stop his freefall

Bytecoin is a cryptocurrency in freefall. Reaching the July highs of $ 0.003870 / 58 satoshi on July 3 the coin fell throughout the month and recorded its lows of $ 0.002603 / 34 satoshi on 31 st . August was more or less the same, given that the NCB stagnated and fell to the August lows of 0.001487 / 25 satoshi, before recovering slightly during the last post-Monday recovery. The latest currency price stood at $ 0.001732 USD (0.08% decline in the last 24 hours) / 27 satoshi (0.82% decline in the last 24 hours). An almost non-existent trade volume of 388.88 BTC is combined with a market capitalization of $ 319.921.921, which makes Bytecoin the 27th most valuable cryptocurrency on the market.

You can not say much here TA-wise, since there is almost no volume and the coin itself is close to exhaustion. The only way is on eh? Unless the remaining Bytecoin whales decide to download you.

Bytecoin is one of the oldest currencies on the market, as happened in 2012. Its main characteristics are the private currency that Monero has forked and with a rather controversial past on the whole, while maintaining a loyal user base. Bytecoin is currently trying to recover part of its blurred image (we have already described how they have clouded here), and their major updating activity is clearly part of this effort lately. The first major update we found was the release of Bytecoin blockchain explorer.

They also I tried to establish a presence on Facebook and I tried to get the onchain.fx website to remove BCN from their list of scams. These efforts have not been successful since both Web sites believe that Bytecoin is a scam, even if they provided "real evidence" of not being a scam (BCN_official, the Reddit account we got this information from, never listed what evidence they provided). That said, they are still listed on Coinpayments.net so at least one company feels legitimate. Or they do not mind taking the money from the scams. The coin was also recently part of the 4 th round of the release of the CCID index, in which the coin was ranked as 27 th out of a total of 33 currencies.

Coins such as Bitcoin Cash, NEM and Litecoin were placed under it; then again, another "very problematic" currency, Verge, positioned at several points above the real value of this index is questionable.


🏆Read here a head-to-head comparison of private currencies.


Bytecoin's team recently released a 3.2 .2 update for their Daemon / desktop portfolios. Both software has been improved, with API changes, bugs fixed, database of nodes improved and cache wallet. Some parts of the community argue that these improvements should have been implemented years ago, but most seem happy that there is work on the currency. Since then, the portfolios have been updated to versions 3.2.4 which apparently have made further improvements. Another "important" version was the publication of Bytecoin Public Testnet live, and the official version requires the download of the 3.2.4 software to access it.

Bytecoin is not at all close to atone for their previous transgressions. The market has made them aware of this quite clearly, as the currency is falling more than 95% from its ATHs. The fiasco of Binance's list is in everyone's mind and these random updates will probably not change that much. Their mantra "accessible to the mining house" also failed because Bytecoin was invested by Bitmain and its ASIC miners. We found mentions of a difficult fork that would have addressed this specific problem, but there is nothing concrete online. With all this, our previous judgment on Bytecoin remains unchanged.

CapitanAltcoin writers and authors may or may not have a personal interest in any of the projects and activities mentioned. None of the contents on CaptainAltcoin is an investment advice nor a substitute for advice from a certified financial planner.

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