Why is Bytecoin price dropping so much?

I've noticed that the price of BCN Bytecoin had been dropping a lot lately. Does anyone know if it is due to some particular reason or is it just a consolidation? Maybe it's a good time to buy some cheap.

this is because risto pietila the CEO of Monero was recently convicted. he is however still posting on the forums. because of this people have lost some faith in cryptonote currency. note that Monero is a simple Bytecoin fork. Cryptonote has lost against other more promising anonymous solutions. Don't buy Bytecoin or Monero. it will only go down in the long term. BCN will go down faster.

One of its factors, bytecoin one alt with unlimited coin suply, as its general law of the market, the more an item, the cheaper the price of the item

The crash is the reason why bytecoin drop. Not only bytecoin but also many other coins are falling from the sky. Hope that all of them will recover because there are many people losing their fate in cryptcurrencyc right now. The market is driving people crazy, including me. I have lost 3 bitcoin recently and I keep losing more and more bitcoin

Quote from: tigershark on July 10, 2017, 05:36:42 PM

BCY price was from 1-10 satoshi. It will return there. The y was lost of BCY mined by few people in fist 2 years since they did not tell others it exist. Just google it to get exact numbers.

Quote from: tigershark on July 10, 2017, 05:36:42 PM

The reasons given before are important, but at this time the whole market is crashing hard, so this is not only something related to this coin but it is a thing of the market in general and I think it is going to keep going for some time.

Quote from: Febo on July 10, 2017, 06:42:24 PM

Quote from: tigershark on July 10, 2017, 05:36:42 PM

BCY price was from 1-10 satoshi. It will return there. The y was lost of BCY mined by few people in fist 2 years since they did not tell others it exist. Just google it to get exact numbers.

Sorry irrelevant, maybe you mistake between BCY and BCN =)).

Yes, if you going to find information about BCN, you can know BCN is trash coin and most inflationary in CryptoNote Currency list. Athough this is first project in CryptoNote but by inflationary and more bugs, an alternative solution launches for replace it, this is Monero - an altcoin folk from BCN and fix all issue of BCN

The trend happening not only in bytecoin all other coins and tokens falling . Now current market in bearish trend its common with all trading platform including equity and commodity lets wait for some time to go market bullish.

Remembering the time XMR went from $6 to $0.25, for a minute I imagined this could be headed all the way to $2.50 Cheesy

That would be pretty fun.

Not only with Bytecoin, other altcoins also get this same thing and for trader like me just holding the tokens for wait the price recover back (for those who afraid to lose) I don't know what happening, but bad news just happened today.

Quote from: sulendra12 on July 11, 2017, 11:34:03 AM

Not today, this is already happened since some days ago. It started with ETH price dropping from 0.012-ish BTC to 0.1, then it down again to 0.09 and now it's on 0.084-ish BTC. The worse part is this made some people become panic and do panic selling with their altcoins.

BCN will return to sub 10 satoshi. And if Poloniex will continue with their policy BCN will get delisted sooner or later. Most likely in their next round since BCN withdrawals are more time disabled then enabled. It will not change anything to BCN except pumps will be less often or not at all.

Quote from: bohr on July 11, 2017, 03:35:17 AM

Quote from: tigershark on July 10, 2017, 05:36:42 PM

yes you are right bitcoin is the currency that is now moving upward and the place where we live right now is the era of educated and well developed people so bitcoin is not dropping right now so the price is now and the price in the past there is huge difference.

Bytecoin is one of the weirdest coins ever, it is too problematic for users.
And also, there are general trust problems with devs. So these are obvious reasons.

Because it was overvalued. It is falling down with other useless overvalued coins.

Quote from: tigershark on July 10, 2017, 05:36:42 PM

They might know that Bitcoin is about to receive either a price increase or the price of Bitcoin will receive a decline that will cause the Altcoins price go lower as well. I would wait it out while seeing what happens after a few weeks.

There’s another possibility that people purchased Bytecoin thinking that they’ve purchased Byteball as well so there could be a bunch of reasons why the price went down that much. We can only know so much about it.

Quote from: DGulari on July 11, 2017, 12:38:04 PM

Quote from: sulendra12 on July 11, 2017, 11:34:03 AM

If you think this is panic selling and those people are wrong then take advantage of the situation and get it for cheap, there is nothing like getting coins with a heavy discount and get profits after the price recovers a little.