In this article, we will give our own and market’s opinion on BCN future while discussing Bytecoin price forecast for 2021 and beyond.
Now, before we delve deep into the Bytecoin price prediction and answer questions if BCN is a good investment or not, let’s quickly throw a glance at what is BCN and its to date history.
Bytecoin is one of the first post-Bitcoin, privacy-focused cryptocurrencies that implements CryptoNote, also used by other privacy coins like Monero.
The Bytecoin team believes Bitcoin’s on-chain transactional privacy is insufficient for a widely used, peer-to-peer value transfer network. Borrowing the CryptoNote white paper, Bytecoin implements one-time ring signatures which enable complete transactional unlinkability between network participants.
Unlinkability is one of two primary transaction data privacy goals for Bytecoin, the other being untraceability. Bytecoin believes Bitcoin does not sufficiently, if at all, meet these privacy requirements, and they aim to build a protocol that does.
Captainaltcoin’s BCN Price Prediction 2021
BCN, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, BCN can hope for one as well. Bitcoin usually has a cool-off phase after its mega bull runs and that is when the altcoins take over and have a field day with the bulls, often doubling or tripling their price within days.
With the pandemic breakout, the world was sent into hybernation for couple of months and it reflected negatively on the cryptocurrencies, sending bitcoin downhill as we witnessed even 40% daily losses. However, situation quickly stabilized and bitcoin as the flagbearer took the crypto market back up. We are in a major bull run since the summer and, if we are listening to the analytics from social media and journalistic desks, we are far away from its local zenith.
What this means for BCN price in 2021?
As long as bitcoin is in the main role and pulling upwards, there is little room for BCN to shine. It will, however, increase its USD denominated value thanks to the overall rise in crypto prices. Nevertheless, BCN to BTC ratio will probably slump, possibly to all-time lows. This means that it is best to keep your funds in bitcoin until it reaches its provisional peak, opening the doors for the altcoin to enter the scene.
Top 3 coins for huge ROI in 2021?
If you would have bet on the right coins last year you could easily have 10xed your capital…
You could even have made as much as 100x which means you could have turned $100 into as much as 10k.
Experts believe this will happen again in 2021, the only question is which coin do you bet on?
My friend and cryptocurrency expert Dirk is personally betting on 3 under-the-radar cryptocurrencies for huge ROI in 2021.
But not BCN – this is a dead project and I can only express my sympathy for your loss. Forget about this bad investment and move on.
BCN Future Outlook
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will BCN be among those 5%?
Almost certainly NO.
After getting canned from Binance and other big exchanges, there are couple of team members (probably some freelance community manager) still surfacing from time to time to promise the “new roadmap” before diving back to obscurity and opaqueness of the Bytecoin desert.
One of the BCN users had a pretty plausible explanation what happened with Bytecoin and where are the developers and core of the team:
“The devs left the ship, did not you notice? the last move they made was, list in binance, send their bcn there, disable all bytecoin portfolios with a DDOS (the Bytecoin wallet allows a DDOS attack that leaves the network dead, if almost no hashpower) and while everyone was trying resuscitate the portfolios they culminated one of the biggest scams of cyptomundo, they sold all their coins and now they do not need to say anything, they have achieved their goal, do not you see?”
If you recall, the top exchanges listing caused the price of this coin to jump to $0.018 and its market cap to go over $3 billion before the issues began. The “private and untraceable” Bytecoin apparently wasn’t prepared to handle this much of an investor interest, as the network “crashed” with no explanation immediately after this massive price spike. No one was able to withdraw or transfer their BCN tokens and the panic kicked in.
Why will Bytecoin (BCN) succeed?
Why will BCN fail?
“The reality is that 82% of the coins were already mined before its ’public’ release. Even if the premined coins weren’t done so maliciously, it still means 82% of the coins in the hands of persons unknown and invisible. It basically centralizes a decentralized currency.”
82% is a huge number of coins to be premined and gives the developers and stakeholders the opportunity to influence the price of BCN solely with their holdings. What is more, this opens the possibility of a “pump and dump”, meaning that the premined Bytecoins can be dumped on the market which, in turn, would cause the price to drop significantly.
“Even if you take the fact that Monero is clearly leading the innovation race, I would think it dangerous to touch a coin where 82% of it is held by unknown actors who were not publicly observed during the period where they supposedly mined the coin. Having a shady history does not set a good precedent.” –Spagni also says.
Another concerning fact about Bytecoin is that is has been on the market for so long and yet, very little is known about its developers. Even in the official website of the currency, you can only find pictures and first names with no detailed information. To conclude: if you are stuck with bags of this shitcoin, sorry for your loss – sell it if you can and take it as a valuable lesson for the future investing decision.
Will BCN reach $1?
Probably not. It is more likely to reach zero than one dollar.
Is Bytecoin dead?
No, but it is on a life support machine waiting for someone to pull the plug and declare it officially dead.
All of this summed up means one thing: BCN might live through couple of orcheBCNed and, for a regular trader, completely unpredictable pumps but the majority of time will be murky sideways trading with small volume and no significant interest from the market.
Price will heavily depend on what BTC will do and since many analysts think BTC will not be making big moves in this year, it is hard to expect BCN will do them either. The price will probably stagnate and record slow-moving depreciation or appreciation depending on the team activity, potential technological breakthrough or high-level partnership.
Market prediction for BCN – BCN Price 2021
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the BCN price, which will give us another point of view to consider:
Walletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, BCN is expected to grow to $0.0029 per token in one year. That is highly optimistic and surprising prediction.
Cryptoground predicts that BCN might drop to $0.0006 by the end of 2021. They even added their version of BCN price prediction 2024, which is more optimistic, where they stated that BCN might reach $0.013 by 2024.
How high will Bytecoin go?
Don’t expect it to go high at all – this is borderline dead project.
Bytecoin Future: 2023, 2025, 2030
BCN Price Prediction 2023
Bytecoin (BCN) will struggle to be alive in 2023 with chances of that to be the case being very high.
BCN Price Prediction 2025
If BCN is still around in 2025, John McAfee will eat his transplant new genitalia and then eat it again.
BCN Price Prediction 2030
Chances of nuclear war are way higher than BCN being live in 2030.
Realistic BCN Price Prediction
Realistically, this coin should’ve been dead long time ago. Realistic price is for that reason zero.