BCN published on Binance and rocketing. Who is BCN?
Coin of the day is Bytecoin.
Bytecoin is an open-sourced decentralized cryptocurrency with untraceable payments that was started in 2012. Bytecoin is considered one of the oldest blockchain projects and one of the first to focus on privacy for the end-user. The team clearly states in their whitepaper that they don’t consider Bytecoin as a Bitcoin replacement. Instead, they feel that having multiple strong currencies is beneficial to everyone involved. Until recently, the team behind the coin has kept themselves anonymous. Now, though, they’ve opened up multiple communication channels and removed some layers of anonymity.
With a focus on privacy, Bytecoin competes with other privacy coins like Monero, ZCash, and Dash. Monero is a fork from the original Bytecoin code. Monero supporters argue that the original Bytecoins (>80%) may have been pre-mined for two years before the public release, but this is still being debated by both parties. Still, as Bytecoin has existed for a long time and was available for miners, in the rough estimation over 95% of the coins are already in circulation.
Today listing on Binance is a positive sign of acceptance and also will drag a lot of capitalization to the coin.
Technicals
As a majority of altcoins BCNBTC bottomed on the 18.03.2018 at the 0.00000025 price. On the 14.04.2018 the coin breakthrough above the 100-days EMA and major Bullish Trend Line, since then it was showing a sustained growth, which brought the coin above the 0.0000007 level till today. Today, after the official listing on Binance the coin showed significant upward impulse from the 78.6% Fibonacci zone (almost bottom of the coin) to the 38.2% Fibonacci level of the global uptrend, this is almost 3x rise. The uptrend impulse reached 0.000002 level and went into a correctional pattern. If the price were able to preserve Bullish bias, by reversing above the 0.0000014 zone, that would be a good basis for the further growth. So, it would be wise to wait until the price forms a rebound pattern to consider buying in. Breakthrough below the 0.000001 level would cast a shadow on further growth of the coin.
Bytecoin is an open-sourced decentralized cryptocurrency with untraceable payments that was started in 2012. Bytecoin is considered one of the oldest blockchain projects and one of the first to focus on privacy for the end-user. The team clearly states in their whitepaper that they don’t consider Bytecoin as a Bitcoin replacement. Instead, they feel that having multiple strong currencies is beneficial to everyone involved. Until recently, the team behind the coin has kept themselves anonymous. Now, though, they’ve opened up multiple communication channels and removed some layers of anonymity.
With a focus on privacy, Bytecoin competes with other privacy coins like Monero, ZCash, and Dash. Monero is a fork from the original Bytecoin code. Monero supporters argue that the original Bytecoins (>80%) may have been pre-mined for two years before the public release, but this is still being debated by both parties. Still, as Bytecoin has existed for a long time and was available for miners, in the rough estimation over 95% of the coins are already in circulation.
Today listing on Binance is a positive sign of acceptance and also will drag a lot of capitalization to the coin.
Technicals
As a majority of altcoins BCNBTC bottomed on the 18.03.2018 at the 0.00000025 price. On the 14.04.2018 the coin breakthrough above the 100-days EMA and major Bullish Trend Line, since then it was showing a sustained growth, which brought the coin above the 0.0000007 level till today. Today, after the official listing on Binance the coin showed significant upward impulse from the 78.6% Fibonacci zone (almost bottom of the coin) to the 38.2% Fibonacci level of the global uptrend, this is almost 3x rise. The uptrend impulse reached 0.000002 level and went into a correctional pattern. If the price were able to preserve Bullish bias, by reversing above the 0.0000014 zone, that would be a good basis for the further growth. So, it would be wise to wait until the price forms a rebound pattern to consider buying in. Breakthrough below the 0.000001 level would cast a shadow on further growth of the coin.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.