Ana Sullivan

BTCP Token for 2018 (Bitcoin Private) – Up or Down?

by Ana Sullivan April 13, 2018

The new BitCoin hard fork which happened on February 2018 has started to gain momentum as it surpassed a 100% growth for the last 24 hours. The token of it BTCP which was created to publish payments on public blockchain, while still conserve the recipient and transaction information private and encrypted is actually a mix between BTC and ZCL tokens, which speaks well in terms of privacy, but will this mean a higher token price, we are yet to see?

 

BitCoin Private – Recent Movements

 

BitCoin Private went live on March 10th at a price of $65,82 against the dollar and as soon as this happen the token boosted to an all-time high of $86,20 and from there, it has been massively dumped and stabilized on the sub $20 level. This was until the last 24 hours when the price of the token boosted all the way from $16,74 to $32,87 line in April the 13th. And while this is almost 83% rise in price for 24 hours, the volume of the token of 1 618 820 is about 3 times higher when we compare it to the volume of 476 356 USD when the token was at it’s all-time high. And while this suggests a bull-run, is this good news for the investors or will it shape up to be a downtrend soon, as it often happens with cryptos, once BitCoin declines?

 

 

BitCoin Private – More Information and Purpose

 

Being another hard fork of BitCoin, it’s price is highly volatile and while this cryptocurrency strives to be more regulated and legitimate, it still retains the sole principle of cryptocurrencies – privacy, self-regulation, decentralization and anonymity. And while this is a good recipe, it really makes the investor wonder, will the BTCP token make it big time, or will it go down to a low level and stay there, just like it happened with BitCoin Cash and another fork of BitCoin – BitCoin Gold. And while the fork is a friendly one, it does raise the questions of whether or not the fork has been created by the lucky few who will profit a lot from it’s pump and dump activities. And in the meantime, the token is likely to start being listed on bigger and bigger exchanges, one of which is HitBTC, as cryptocompare users believe. And if we take a look at the positive predictions around this token, they are oriented towards an immediate growth and topping out it’s market rank in around an year time.

 

But BitCoin Private does have it’s challenges ahead of it and will need to address them sometime soon. The main of those might just be:

  • Whether or not the marketing of the token will make it go mainstream.
  • Whether the idea of another BitCoin hard fork is credible enough to compete with the sharply increasing diversification in the Crypto world.

And when we take a look on the upside of things, the BitCoin Private token is the type of token which is likely to be listed in big wallets, like Ledger and Trezor’s products, which is indeed good news if it becomes reality. And in addition to this, we do have the factor of the cryptocurrency’s increasing community as we monitor more and more optimistic opinions about it on Reddit forums and CryptoCompare as well. And not only this, but another factor which suggests a future pump is coming may just be the fact that if you own BitCoin or ZLC tokens, you may have a chance to claim BitCoin private for free, which may further stimulate community and investors to boost this token. But being a highly volatile asset, we do advise you not to count on neither the pessimistic or the optimistic opinions, since with new tokens, anything can happen, as it does with older ones and always make sure to be prepared as this is a high risk investment environment.

 

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