Bytecoin showed some increasing movements by 7.50 percent in the past 24 hours and it’s now trading at $0.002498.
Bytecoin is mostly focused on bringing the crypto space a blockchain based on privacy and security that will enable users to make untraceable transactions. Bytecoin uses the CryptoNote protocol and the CryptoNight hash algorithm. It was created in 2012 and it was created to use ring signatures to provide the users a level of anonymity as all transactions are mixed and untraceable.
Bytecoin is now ranked at the 26th place in terms of market cap and has a market cap value of $459,636,564. From a long-term perspective, we can see that the price went through 2 great bullish runs in the period of 12 months. The first one began from a really low point at $0.000927 last year and continued to rise until January this year reaching $0.017192 which is a price increase of more than 1.600%. Right after this stunning rise, the price rapidly declined for three straight months until the second Bull Run. The second bullish run started at a low point of $0.002081 on April this year then reached an all-time high of $0.0208 in May this year.
At the end of May, the price rolled down to $0.005523 and continued falling until June. After the market succeeded to rebound, the price also managed to slightly rebound as well. If the market continues a higher movement towards the upper boundary range we can expect some more resistance from the cryptocurrency. Any bearish pressure that happens on the market is expected to be absorbed and if the price action doesn’t go below, we can expect support to be located at the 1.414 Fibonacci Extension Level.
DC Forecasts Just Won An Award For “Crypto Website Of The Year”
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"Each year, DC Forecasts delivers more than 8,000 unique news stories, 4,000 news alerts, 10,000 images and thousands of video stories. Their team is comprised of award-winning copywriters, advanced researchers and marketers who are all dedicated to success."What we are also proud to note is that our team are full of experts, traders and analysts that are knowledgeable and able to handle complex topics from the crypto space. You can see this in our Bitcoin news and altcoin news categories which are updated daily. We can safely say that our commitment to providing fresh topics, technical analyses and details as well as unique crypto stories is what sets us apart from the competition. Because of all this, we remain true to the integrity and freedom from bias. Over the years, DC Forecasts established itself as an independent cryptocurrency news site and a valuable source for newbies, experienced traders as well as experts in the space. In our Cryptopedia section, you can also learn more about every cryptocurrency from Bitcoin to Ethereum and see what their teams are working on. Whether it's a daily rundown on the price of Bitcoin and Ethereum, your morning routine of listing the latest news in crypto or a dedication to each and every one of our headlines, we are confident that many good things are awaiting us in the future. This award gives us a good push and determines us to work even harder in the future. To all of our crypto fans and followers - thank you for your support over the years!
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DC Forecasts Featured On Reuters For Its ‘Newly Revamped User Interface’
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