Bytecoin in the past showed a significant growth, because it increased its value by more than 165% in a single day, also, after this announcement, Binance added to this cryptocurrency, which faced several problems in the future, which begin from the fall of its price in relation to the network and the problems that the users had when withdrawing the coins.
Obviously after this problem happened, several observers tried to intervene in this type of problem, which attacked the currency completely, alleging that it was a big scam, because after the Bytecoin joined Binance, it stops administering the numerous transactions that happen within this platform.
Also, surprisingly users when writing Bytecoin (BCN) in CoinMarketCap, they found that there was no record of this, and that some web pages, reflected the value and price of each currency, then. Why of this there was no record? However, those who supported this cryptocurrency strongly believed that it could earn them some money, but this was not the case because no one was able to withdraw these funds.
On the other hand, experts in the market, declared that this currency is a scam. Thus, the theory that the BCN market collapsed because the currency could not support a large number of users and transactions.
In fact, CoinMarketCap in the past, had placed the BCN in the position number 15, so that it then dropped in very little time to position 1594, which would lead as a direct consequence that there was no current price of the currency, nor any limit in the market of this. Although we also have to say that in Coinrainking, Bytecoin occupied the 11th position, and still maintained the commercial value of 0.0282 for that time, reflecting a percentage increase in 24 hours of 57.01%, and a percentage increase in a week of 420.42% .
Bytecoin, on the other hand, made various statements saying that the network was being affected by a large "unusual" load (surprise surprise). In their statements they also added that the transactions were delayed due to this, and that they were working hard to resolve this conflict. Therefore, he told his users to try not to make more transfers.
Similarly, Binance, was part of the largest transaction of Bytecoin, alleviating the fear of users and affirming that everything would return to normal.
Finally, after having read everything related to this problem and the difficulties that were always presented to this currency, from my point of view, I conclude that this coin really was a big scam. So, it is clearly not worth investing in it a penny.
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