Bytecoin (BCN) may not be one of the most popular currencies in the entire cryptography market, but it has certainly made significant progress to get there. This is a discrete coin that does not attract much attention at first sight. However, if we take a look at some of the transactions processed by it, its history begins to unfold, and we can see that the currency is gaining popularity. With such a situation, what can we expect from Bytecoin's price in the near future? This is something that many investors are asking for, and that is why today we will try to provide them with an answer
Bytecoin price now
Like all cryptocurrencies, the price of Bytecoin has seen a big drop this year due to the bear market. Its current price is just $ 0.001788, with a decline of 8.87% in the last 24 hours. This placed the coin in 25th place on the list of the major cryptocurrencies of CoinMarketCap by market capitalization. However, it would be wrong to believe that the price of the currency is so low because it is a bad currency. Its huge circulating offer is great to blame here.
The current circulating offer is 184 billion tokens, which is less than half a billion tonnes of its total supply of 184.47 billion BCN.
Even so, BCN will always have its place in the market due to the amount of privacy it provides to its users. Its blockchain is easy to use and transactions can not be tracked, which will guarantee the popularity of this currency. Furthermore, money is very efficient, which has led to a huge increase in its community. In the end, what this currency needs is time and patience, which is why it's a perfect choice for long-term investors.
Bytecoin is not a scheme of pumps and landfills
Thanks to the rise of false ICOs and other numerous encrypted schemes, a lot of people were worried that BCN could be a scheme of pumps and landfills. Investors were fundamentally fearful that they would be induced to invest in a currency that would prove worthless. His team, however, responded by stating that they had no control over the currency or the possible directions of its price. In fact, all they can control is the software underlying the currency.
Also, some time ago, NCB announced its debit card project. However, it never seemed to arrive, and the team says the project has had some setbacks and that more information will be released as soon as the team receives them. Many were also worried about the project roadmap, but the team also announced that the updates will arrive in due course, asking for patience.
The currency has been listed in a fair number of exchanges and has made several collaborations. Even if it has its problems, it is still a currency to invest. It is true that the price of Bytecoin is not going very well at this time, but the currency community remains convinced that its time simply has not yet arrived. When it does, it will be able to compete with the best of them. Meanwhile, the believers in the currency are buying the maximum they can at this time, guaranteeing great returns when the winds change, and the price of Bytecoin increases.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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