Bytecoin (BCN) Team Refuted Rumors About Manipulating the Price of Cryptocurrency

The startup representatives said they did not know when the coin would be added to the Binance. They noted that they only affect the program code of the token.

At the time of writing Bytecoin (BCN) traded at a price of $0.006756, down -18.90% during the past 24 hours. Trading volume reached at $28,380,700 with the total market cap of $1,242,391,675.

The Bytecoin (BCN) cryptocurrency team held a question-answer session at the Reddit forum. This is the third such event, organized by company representatives. In the context of communicating with users, developers discussed the roadmap, development plans and rumors about manipulating the cost of altcoin after it was added to the Binance stock exchange.

Then the price of the cryptocurrency grew by 160% in a few hours, after which the input and withdrawal of funds on several trading floors was suspended. Once this problem was solved at Binance, the problems began to be experienced by customers of Poloniex and HitBTC.

After these events, rumors appeared that the Bytecoin (BCN) team uses the pump and dump scheme (when the rate is artificially increased in order to sell the CY’s at the most favorable price). The developers of the altcoin were accused of deliberately arranging delays to cash out the crypto currency and make a profit.

Representatives of Bytecoin (BCN) said that they control only the software of altcoin. They noted that they did not know when the coin trade would become available on Binance and added that only the cryptocurrency market dictates prices for digital money.