In the last 12 hours alone, Bytecoin has experienced eight — yes, EIGHT — price spikes of around 90%. Music to your ears? Here’s how to get in on the action.
According to CoinMarketCap, Bytecoin’s price is behaving rather peculiarly at the moment, with extreme but strangely predictable volatility causing an extraordinary volume of double-digit price spikes throughout the last 24 hours. If traders can time the market, they could potentially make huge profits from these frequent surges.
If you want to start trading BCN to take advantage of this opportunity, read on to find our list of the best places to buy Bytecoin.
How & where to buy Bytecoin in the UK and elsewhere
You can start trading Bytecoin today by opening a free account with one of our recommended brokers and exchanges below. As soon as your deposit reaches your wallet, you’re ready to start trading BCN. All of our partners are regulated and reliable, meaning you can be confident your funds are in safe hands.
Decentralised exchanges (DEXs) are gaining popularity among traders, however we recommend avoiding these as they are unregulated. This means they could theoretically be shut down at any time, which could wreak havoc on your trading operations.
eToro
eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.
CAPEX
CAPEX.com is an awarded fintech brand, globally recognized for a strong presence in shaping the future of trading. The company focuses on making the markets more accessible & transforming the way people trade online.
What is Bytecoin?
Bytecoin is actually one of the oldest cryptocurrencies around, and was founded in 2012. It aims to build on the core primitives of cryptography, implementing a technology called CryptoNote to increase user privacy by preventing blockchain analysis.
As privacy becomes an increasingly pertinent issue in our increasingly surveilled society, Bytecoin’s focus on privacy may well become vindicated. Bytecoin also boasts a more practicable payments system than many earlier cryptocurrencies, allowing for faster transactions than tokens like Bitcoin.
Should I buy ByteCoin today?
ByteCoin certainly makes for a great trading opportunity at the moment. According to CoinMarketCap’s data, BCN has experienced more than ten huge price surges in the last 24 hours.
As the price chart below shows, these appear to be predictable, and in each instance so far, a trader who bought BCN at the bottom of each downward move would have received returns of around 100% as the price seems to reliably return to a stable base.
BCN 24-hour chart. Source: CoinMarketCapBCN price prediction
BCN seems to have established a base at around $0.0012. It could be argued that any decline beneath this price is a “dip”, seeing as previous drops below this price have been short-lived. Traders who were to try and time the market would probably wait for a dip to around $0.0006 or lower, before selling upon a return to the $0.0012 region.
Please note that these are just our observations of the market, as should not be construed as direct investment advice.
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