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RE: I expect a second wave of Altcoin sell-offs before Monday
It seems to me lately that bytecoin follows bitcoin alot so if bitcoin is going to 20k expect a rise out of bytecoin and probably monero they are part of the same cryptocurrency tree.
Personally don't see a lot of support or trade volume with Bytecoin. It's one of those coins that are slowly being forgotten tbh. Monero on the other hand, has plenty of upwards potential, as privacy is getting more and more valuable for holders and traders of crypto.
The only reason you havent seen upward movement in bytecoin's price is because in their infinite wisdom they made 184.5B coins. So, even though its market cap is in the top 35 of cryptos at $510 million its price is in the toilet because you have 184B coins. Meaning for the price to see $1 it needs a market cap of 184B...Bitcoin right now is at $250B...but Bytecoin doesn't have a big downside either its for those who want a safe low growth crypto...kinda like collecting interest in a bank