Is CoinMarketCap Data Correct? Bytecoin (BCN) Price Surges Over 180% in a Day?

Is CoinMarketCap Data Correct? Bytecoin (BCN) Price Surges Over 180% in a Day?
  • Bytecoin (BCN) price has skyrocketed to over 180% in a day.
  • Other crypto data aggregators BCN shows a bearish trend.

Bytecoin (BCN) price has skyrocketed to over 180% in a day as per CoinMarketCap. Other crypto data aggregator link CoinGecko, CoinCheckUp, TradingView, shows BCN price shows bearish trend. 

According to CoinMarketCap, the BCN price is at $0.0009614 with a 24-hour trading volume of $82,208, at the time of writing.

Bytecoin (BCN) Price (Source: CoinMarketCap)

Bytecoin (BCN) explains itself as a private, decentralized digital asset with an open source code. Moreover, the main aim of the project is to facilitate fast, anonymous, and untradeable transactions. More so, Bytecoin is the first project to implement CryptoNote technology. 

Even more, its security comes from utilizing ring signatures to safeguard a sender’s identity and unlikable address to protect blockchain analysis. Furthermore, BCN claims to have 2 minutes as block time and adaptive parameters that are developed to make it easy to mine. 

Crypto enthusiasts on twitter mentioned in a post tagging Elon Musk. ‘How I wish alot could look into bytecoin(bcn). It’s been around since 2012.’

Data Showing BCN Price Drops, Showing Bearish Trend

Despite the data of BCN price surge. Other crypto data aggregator link CoinGecko, CoinCheckUp, TradingView, shows BCN price shows bearish trend. 

BCN/USDT Descending Scallop Pattern (Source: TradingView)

The above price chart shows a descending channel pattern. This price pattern makes lower highs and lower lows in a descending wedge pattern. Therefore, the major price reversal could also happen which will take BCN to great heights.

Furthermore, this indicates that the CoinMarketCap provides incorrect information that BCN surged over 180%. All-in-all, with the upcoming developments and upgrades BCN has bright future ahead in the crypto space. 

Disclaimer: The opinion expressed in this article solely author’s. It does not interpreted as investment advice.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.