Blackcoin value faced huge drops in 2014. After this, Blackcoin prices gathered to reach over 17,000 satoshis. This is mainly due to increased trading volume on foreign exchanges such as China.
China and Blackcoin
On September, the coin was valued at almost 10,000 satoshis. This was after a 14% rise over the previous day. Blackcoin value continued to go up over the next few days. It topped at over 13,000 satoshis before going down to 11,000.
During the day, the new currency continued to get good rates. It almost reached 11,000 satoshis at one time. The price was stable. It stayed like that for a few days. This is the time when the Blackcoin value started to go up. Within 3 hours, over 3,000 satoshis was added to its price. This increased and hit a record of just above 17,000 satoshis. Many saw this as a chance to earn quick profits.
After these fast price changes, it went down to about 15,000 satoshis. Despite this, the prices for the month still impressed many. Within a day, it was able to increase to nearly 43%. Finally, the market cap went up to $5.7 million.
The price increase was started by Chinese investors. They were responsible for this surge. Over 60% of Blackcoin was focused on Chinese exchanges.
Investors should be mindful of times like this. After the coin’s value went through quick price changes, many users were tempted to sell. This became an chance to earn. Short-term investors should always remember this before buying Blackcoins or altcoins. Temporary price peaks are unavoidable. This is a common thing for such currencies. Long-term investments should also consider this before making any changes.
Blackcoin value after China
Since this was short-lived, prices went back down during the last quarter of the year.
The Blackcoin value continued to go down before 2014 ended. On November, the Blackcoin price was already under 10,000 satoshis. This went up a day after the surge, but it dropped to under 9,000 in less than a day. Another decline pushed prices down to under 8,000 satoshis.
After, it reached a market cap of $2.2 million. This gave it a good spot among the other altcoins. It stayed on the 16th spot for quite some time.
Like many of the altcoins, its best feature is its developer activity rating. This is one part that can drive the Blackcoin value back up.
Blackcoin and the Blackcoin value show a lot of potential just as Bitcoin did. It has unique advantages. All of which could easily attract different users. Transactions are fast and cheap. Processing is swift. Security is tight.
