Virtually all cryptocurrencies have noted some positive momentum over the past few days. The Bytecoin price is no exception in this regard, primarily because of strong gains in both USD and BTC terms. There are some interesting developments which seem to fuel the interest in BCN, although it remains to be seen how long this uptrend will last.
Bytecoin Price Rise is Captivating
There is not much talk about Bytecoin among cryptocurrency community members. That is only to be expected, as it seems the currency doesn’t benefit from the best of reputations. Numerous sites consider BCN to be a shady project, even though it still has a very loyal following at this stage. As such, one has to give BCN the benefit of the doubt. Traders and speculators appear to be doing so and reaping the benefits from doing so.
Over the past 24 hours, the Bytecoin price has noted a strong 13.5% increase in the USD department. These gains are partially facilitated by Bitcoin’s positive momentum, even though BCN also notes a 9.3% gain over BTC in the process. If this trend keeps up, the Bytecoin price may very well hit $0.003 before the weekend is over. That will mainly depend on how the Bitcoin price evolves over the weekend, though.
Several factors influence the current Bytecoin price momentum. The Bytecoin Foundation unveiled its roadmap for 2019 to 2021. Many interesting developments will take place, including Yandex Support integration, the launch of the BCN CoinPay solution, and TV marketing. All of those developments will have a positive impact on the Bytecoin price accordingly, assuming the developers can deliver on these promises.
— khaled alshammari (@bgl1993) September 28, 2018
It also seems Bytecoin is getting listed on more exchanges as time progresses. The latest company to provide exposure to BCN is Gate.io, a platform which has received a lot of interest from altcoin traders over the past few months. Having more exchanges support specific cryptocurrencies will improve overall liquidity and exposure accordingly.
— Bytecoin BCN (@Bytecoin_BCN) September 28, 2018
Speaking of exchanges, Ranjeet Bhattarai is confident Bytecoin will be making its way to Coinbase in the near future. That seems rather unlikely, albeit the recent change in Coinbase’s listing policy opens the doors for a lot of new currencies to be added over time. For now, Coinbase is more likely to add XRP first and foremost, although nothing has been officially confirmed yet.
— Ranjeet Bhattarai (@ranjeetbhattara) September 28, 2018
With all of these reveals, changes, and developments taking place behind the scenes, it is only normal the Bytecoin price goes through a spell of positive market momentum. Its overall low trading volume of barely $6m raises some concerns, though, albeit BCN has never been the most liquid cryptocurrency on the market whatsoever. For now, it poses no real problems, yet it is something to keep in mind at all times.