Bytecoin has become synonymous with volatility. There have been quite a few pump and dump schemes which have been running in this particular cryptocurrency. In the last one week, the price of this cryptocurrency has increased by 166%. Many of the investors think that the reason for this was the listing on Binance. Moreover, the increase in volumes was such that none of the cryptocurrency exchanges were able to handle the volume.
Recently, however, the team behind the cryptocurrency tried to clarify and assure the investors. According to their tweet, they will be hosting an AMA which will focus on issues which are being faced by the cryptocurrency and also the recent volatility in the price of the cryptocurrency.
Many investors are scared of investing in this cryptocurrency as the price has increased significantly. As a result, the team behind the cryptocurrency is trying to resolve the doubts as well as queries of the investors so that they have more information while investing. Also, they are showing the clarifications in order to ensure that none of the investors lose money by investing in this cryptocurrency.
Bytecoin Price Today
According to a BCN holder, he has lost almost $ 2800 because of all this volatility. Also, currently most of the exchanges are not displaying the correct price of the cryptocurrency coin. As a result, the holders of the cryptocurrency are not sure how they should value. Moreover, there are politicians for the cryptocurrency due to which, liquidation of the orders is not taking place. As a result, selling the cryptocurrency is actually pretty difficult currently. People are also thinking that they have lost their money in this cryptocurrency as they are not able to sell it at all.
On the other hand, the developers are trying to keep the community up-to-date but they haven’t solved the problem even after a week of it occurring. As a result, the investors are now skeptical as to whether they will be able to solve this problem or whether the investors will end up losing their money. It remains to be seen whether the developers are able to get their game together and quickly or whether the investors are likely to lose money.
Many of the cryptocurrency investors have heavily invested their savings in the cryptocurrency as it was rising significantly. At the same point of time, now they are not able to liquidate their cryptocurrency Holdings in most of the exchanges are showing errors when they tried to do so. Thus, they are not able to get their hands on the amount which they had invested.