MarketPredictionPrice Analysis

Bytecoin Price Prediction 2021- How Much BCN Will Reach in 2021?

  • Bullish Bytecoin price prediction ranges from $0.00073 to $0.00185.
  • Bytecoin (BCN) is a decentralized crypto token.
  • BCN bearish market price prediction for 2021 is $0.00024.

This Bytecoin Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into account upon coming up with our BCN price prediction and analysis.

Bytecoin (BCN) is a decentralized cryptocurrency launched in 2012. Moreover, the main aim of the project is to facilitate fast, anonymous, and untraceable transactions. However, BCN claims to be the first project to implement CryptoNote technology.

More so, its security reportedly comes from utilizing ring signatures to protect a sender’s identity and unlinkable addresses to prevent blockchain analysis. Bytecoin claims to have a block time of two minutes and adaptive parameters that are developed to make it easy to mine.

Now that we have an idea about BCN, do you think BCN will be a profitable crypto in 2021? Join me and let us see the charts in this BCN price analysis and Bytecoin price prediction.

Bytecoin Current Market Status

As of the time of writing this Bytecoin technical analysis, BCN trades at $0.00069 with a 24-hour trading volume of $2,429,423,881. The price of BCN has increased by 22.44% in the last 24 hours.

Furthermore, BCN has a current circulating supply of $184,066,828,814. Currently, the top cryptocurrency exchanges for BCN are HitBTC, Gate.io, Poloniex, CoinEx, and STEX.

Now, let’s proceed to the next part of this BCN technical analysis for 2021.

Bytecoin Price Prediction 2021

Recently, BCN held 341 place on CoinGecko. But, would the latest developments and upgrades in the blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this BCN price prediction article.

BCN/USDT Chart Showing Cup and Handle Pattern
BCN/USDT Chart Showing Cup and Handle Pattern (Source: TradingView)

Based on the graph above, the chart displays a cup and handle pattern. The pattern indicates a period of consolidation which might result and reach an immediate price breakout or breakdown. A breakdown from the lower trendline shows the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.

Also, the Relative Strength Index (RSI) is at 57, which means that BCN is nearing to reach the overbought state. Hence, traders must be careful about the price reversal that may occur at any given time. 

BCN Relative Strength Index
BCN Relative Strength Index (Source: TradingView)

Also, crypto traders must trade with caution and must not be affected by the cryptocurrency market hype. With all this in mind, traders must be careful in investing to avoid unexpected losses due to the crypto market’s wild swings.

Let us see the Exponential Moving Average (EMA) and the Simple Moving Average (SMA) of ByteCoin.

BCN 30-day SMA and 50-day EMA
BCN 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, BCN’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by corrections, consolidation, and fluctuations right away. Taking this into consideration, BCN has a competitive market this 2021.

Bytecoin Price Prediction Chart Showing Symmetrical Triangle Pattern

As shown below in this BCN price forecast chart, in a smaller time frame, BCN displayed a Symmetrical Triangle Pattern.

BCN Price Prediction Chart Showing Symmetrical Triangle Pattern
BCN/USDT Symmetrical Triangle Pattern (Source: TradingView)

The smaller time frame in the chart above shows the Symmetric Triangle pattern. This pattern represents a period of consolidation that may lead to a price breakout or breakdown. A breakdown from the lower trendline represents the start of a new bearish trend, while a breakout from the upper trendline shows the beginning of a new bullish trend.

In the short-to-mid term scenario of our Bytecoin price prediction 2021, BCN has to break past the resistance level at $0.0008 in order to further skyrocket its price. To do this, it has to establish more support from resistance level $0.00073. If not, bears may gain the upper hand and drag BCN further to their territory.

Conclusion

BCN seems to have a great future ahead in 2021. With the ongoing developments happening within the BCN ecosystem, as well as in the overall crypto market, we may see BCN reach new heights.

BCN/USDT Price Chart
BCN/USDT Price Chart (Source: TradingView)

Meanwhile, our long-term BCN price prediction 2021 is bullish. Even more, the bullish BCN price prediction in 2021 is $0.0018. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.03 this year. However, that will only happen if it breaks the past number of psychological resistances.

Furthermore, the project seems promising with high goals, a clear focus, and a use case that aims for a broad market. Together with increasing adoption, positive price predictions, and a community composed of thousands of retailers, Bytecoin is likely to be a promising investment for 2020.

FAQ

What is BCN?

Bytecoin (BCN) is a decentralized CryptoNote based cryptocurrency launched in July 2012. Moreover, the main aim of the project is to facilitate fast, anonymous, and untraceable transactions.

How to Buy BCN Tokens?

Users can obtain BCN tokens by purchasing them from cryptocurrency exchanges such as HitBTC, or Gate.io.

Will BCN Surpass its Current ATH?

BCN is the best crypto to invest in 2021. Best of all, BCN has a high possibility of surpassing its current ATH at about $0.03 this year.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Alyssa Wiselin

Crypto trading has enticed Alyssa Wiselin to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.

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