Home / Crypto Currency / Bytom Price Surpasses $0.2 as Bulls Remain in Control

Bytom Price Surpasses $0.2 as Bulls Remain in Control

Altcoins are slowly hitting their stride again after a tremendously bearish 2018. Most markets lost anywhere from 50% to 90% in value. Recovering those losses is difficult, but some coins appear to be better off than others. In the case of Bytom, it would appear the current price trend may remain in place for a while longer After surpassing $0.2, anything seems possible for this altcoin.

Bytom Price Momentum Intensifies

It is quite impressive to note how some altcoins can effectively buck the overall sideways trading trend. In the case of Bytom, the current gains continue to pile up, which is effectively pushing its value and market cap quite high. These gains are quite impressive overall, especially when considering how all other cryptocurrencies are far less amusing to watch.

Over the past 24 hours, there has been a noteworthy 16% gain in Bytecom’s USD value. Combined with a similar gain over Bitcoin, one BTM is now valued at $0.21 or 3,326 Satoshi. A very peculiar trend, primarily because no one appears to be actively discussing Bytom right now. Even so, competition on the market is always a good thing.

Looking across Bytom discussions on social media, there is not exactly much variety to take note of. A new weekly report has been issued, which documents some interesting developments taking place behind the scenes. That is a sign of a growing ecosystem, even though one has to wonder what the future will hold in this department.

Traders and speculators are also quite keen on this altcoin as of right now. Bytom has noted a rapid long period, according to CoinAlert. Even though this does not necessarily warrant an extended uptrend whatsoever, there is still a good chance the current gains will remain in place for some time to come.

CryptoStickers sees things in an even more positive light. They claim the Bytom market has officially entered bullish territory, even though some of the gains were wiped out in the past two hours. Although it is commendable to see so many people get excited over one specific market, steep uptrends usually lead to very lengthy corrections.

Based on the current market sentiment, it would appear this current push might extend throughout the entire weekend. Whether or not $0.2 can be turned into key support, is a very different matter altogether. Plenty of holders will take profit, especially now that the trading volume has surpassed $50m. Even so, the Bytom price is interesting to keep an eye on.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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