Bytecoin is known for its own qualities. And in fact, while bitcoin might be well known and popular, its network is not the fastest nor the most secure! Bytecoin fixes these shortcomings. Among the cryptocurrencies with tangible business propositions, market traction and ready products, Bytecoin takes top priority.
This Bytecoin price prediction will take you through a journey of future price action and possibilities. Will the Bytecoin price surge or plunge in 5 years? If this is your question, then this piece is ready to provide you with answers.
What is Bytecoin?
Bytecoin is a private, decentralized cryptocurrency with an open source code that allows everyone to take part in the network development of Bytecoin. Privacy and security are naturally proponents of Bytecoin and it’s best solution for those who want to keep their finances private.
Bytecoin stands humbled among a set of cryptocurrencies that still promote the anonymity of transactions and adequate user privacy.
The cryptocurrency, being an older member among this ‘sea of anonymous cryptos’ is yet to gain the attention of mainstream crypto media and therefore still struggles to spot the limelight.
In terms of price and market capitalization, Bytecoin also appears to be looming in the dark as it underperforms many other cryptocurrencies of its status and caliber.
Bytecoin Price Today
As of today, Bytecoin does not appear in the rating of the top 100 cryptocurrencies that we see on popular coin rating platform, CoinMarketCap. However, details from other ranking websites like Coingecko features Bytecoin.
Sitting at position 95 on Coingecko rating, Bytecoin currently trades at $0.00025800 per unit. This is in combination with a total market capitalization of $47,488,566 and merely $45,658 of trading volume in the last 24 hours.
With an insignificant 0.02% market cap dominance, Bytecoin slipped by about 4% in price within the last 24 hours. However, this 4% 24 hours fall in price sharply coincides with its seven-day price fall which stands at 3.84%, altogether bearish for Bytecoin.
Bytecoin Price Technical Analysis (2012-2018)
Upon introducing Bytecoin in 2012, it was worth almost nothing. However, in 2014, when the cryptocurrency got listed on a few exchanges, its rate increased to $0.000005. The market capitalization soared to about $9 mln at the time.
The price of Bytecoin remained low in 2017, but in the second half of the year, the coin started gathering momentum. Bytecoin was added to Poloniex and HitBTC and the price gradually climbed to $0.001 and its capitalization had skyrocketed to $700 mln.
However, later in 2017, Bytecoin suddenly surged amid a generally bearish market. The price of the digital currency reached the 1 cent mark and market capitalization, once again, had jumped to $1 bln. That propelled BCN into the top 30 of cryptocurrencies.
The price jump was possibly triggered by two factors: the fall of the top cryptocurrencies and the impressive Bytecoin roadmap presented in February 2017. However, the hype surrounding the cryptocurrency went down and the rate corrected itself. The price fell to the $0.001-0.002 range.
The news that Bytecoin was going to appear on Binance, resurrected the hopes of investors and Bytecoin began to see improved exchange rates. On May 8, the coin was listed on Binance, an event that gave positive price movement within the next few days. About 114% price surge was seen the next day. Unfortunately, since then the coin has been on a downtrend.
Bytecoin Price 2019
Trailing Bytecoin’s price history, record dates as far back as 2012. It is worthy of note that Bytecoin has seen two extreme price changes to date. These price extremes, when compared to Bytecoin prices today, are particularly intriguing.
As of today, Bytecoin trades at -99.8% of its all-time-high price of $0.145166 touched as of May 08, 2018. Conversely, the coin presently trades at +3985.4% of its all-time-low price of $0.00000632 touched as of January 15, 2015.
Bytecoin Price Prediction 2020
Bytecoin began the year below the $0.0003 mark. It’s price action in the first quarter of the year didn’t go unnoticed especially in February, when the cryptocurrency spiked by about 125%.
The price went up as high as $0.0007 per unit and as hopes of further price gains was stirred up in many investors. At the time, its market capitalization had touched around $130 million.
However, later in March, when bitcoin received a huge blow and fell drastically towards critical points at $3,000, Bytecoin remained steady while only accruing little loss. By the end of March, Bytecoin price had lessen to around $0.0006.
The price fell further and later tried to break the resistance set at $0.0006 during the bear markets. However, the bulls had totally relented and prices fell towards critical points through April.
Since April, the price of Bytecoin has been on a long-term consolidation below $0.0003. Although further downfall remains highly possible, prices are struggling to remain range-bound as the bulls try a takeover.
As of the end of 2020, the price of Bytecoin is predicted to decrease further to $0.000017. This represents about 90% fall in price by the end of the year.
Bytecoin Price Prediction 2021
Popular predictions stipulate that bytecoin is not a good long-term investment. By the end of 2021, the price, according to renowned prediction sites and technical analysts, will be $0.0004.
Bytecoin Future Price Prediction (Next 5 Years)
According to the popular prediction site DCP, Bytecoin will see a 100% price surge from its price today in the next 5 years. They furthered by forecasting that the cryptocurrency has a great chance of surging further in the coming years. According to DCP, the price of Bytecoin may reach $0.00101840 by the year 2025.
Bytecoin (BCN) Price Market Prediction
Generally speaking, the price of Bytecoin shows great downward potential for the next few years. Convergent predictions have a bearish turnout of about 98% price fall within the next one year. However, many analysts and traders have their respective predictions with varying price ranges.
#1. Wallet Investor Price Prediction
Wallet Investor predicts that the price of Bytecoin will reduce drastically within the next one year. According to them, the price of Bytecoin stands a great chance of losing about 95% while touching around $0.000017 by the end of 2020. The prediction site makes reference to Bytecoin’s one-year price history which reveals a steep downward trend and great possibilities to continue the wave. According to Wallet Investors (WI), Bytecoin is not a good long-term investment.
#2. DigitalCoinPrice BCN Price Prediction
In opposition to Wallet Investor’s price prediction, DigitalCoinPrice predicts a bullish scenario. According to the popular prediction site, Bytecoin will see a 100% price surge from its price today. As they claim the coin could touch around $0.0005105 per unit by the end of 2020, they furthered by forecasting that the cryptocurrency has a great chance of surging further in the coming years. According to DCP, the price of Bytecoin may reach $0.00101840 by the year 2025.
#3. CoinPredictor Price Prediction
CoinPredictor gives a similar bullish approach to Wallet Investors. According to CP, the price of Bytecoin may show little downtrend of about -0.2% targeting $0.0003176 in the short term as longer-term perspectives remain bearish. CoinPredictor predicts that Bytecoin will gradually lose value against the USD until about -97% price crash is achieved by the end of 2020. According to CoinPredictor, an intermediate -44% price fall is expected within the next one month.
#4. CoinLinker Bytecoin Price Prediction
CoinLiker claims that BCN will increase in price in the long-run. In 2020, it will cost $0.005012 and in three years it will go even higher to $0.009874. In five years the coin will achieve $0.022777.
#5. CryptoGround Price Prediction
CryptoGround has a surprisingly positive BCN price forecast. By the end of this year, the coin will cost $0.0004. In one year it will achieve $0.0006 and five years later, in 2015, it will cost $0.0103.
Our Bytecoin (BCN) Price Prediction
Generally speaking, there is an equilibrium of opinions and technical analysis balancing the possible future price of BCN between two extremities; the very bearish sentiment and calculations according to Wallet Investor (WI) and the bullish counterpart from CoinLinker. Our prediction, therefore, leans towards none of the extremes but balances at a midpoint of $0.004 where we think are reasonable to find the cryptocurrency by the end of 2020.
Bytecoin Recent Updates
Bytecoin Zero Public Beta Release
The development team presented Bytecoin Zero in September 2019. Bytecoin Zero is a browser wallet for the Bytecoin platform. This software allows users to open their Bytecoin wallets and transfer BCNs straight in the browser without requiring desktop-class software.
Bytecoin Beryl v3.5.1 Extended Release Note
The Bytecoin Devs constantly monitor their software behavior and release fixes (in the form of a release note) when necessary.