Bytom (BTM) – China is one of the most important countries in the world when it comes to cryptocurrencies. That’s why any actions they take moves the market. For instance, when bitcoin started dropping in late January, experts were partly attributing it to the Chinese crackdown on centralized crypto exchanges. With such an influence on crypto values, imagine how big of a deal it is when a crypto project is ranked one of the best in this market? That’s huge, right?
Well, that’s what just happened to Bytom (BTM). In a research done by block data on 500 blockchain projects in China, Bytom has emerged top in terms of technology value. It also took 3rd position overall.
With the release of these news, two things are bound to happen. First, there is going to be a surge in interest in this crypto by Chinese investors. Everyone wants to be part of a valuable crypto project that has good long-term prospects. There is every indication that this is already happening, if price action is anything to go by. In the last few hours, Bytom has gained despite the rest of the crypto market dropping, with bitcoin sinking below $8000. As more investors get to learn of the strong value standing of Bytom in the blockchain ecosystem, you can expect more investors to flock into this crypto and push up its value.
Secondly, this could trigger more Chinese exchanges to list Bytom, which will give it a boost in trading volumes. If Bytom were to be listed on two or more exchanges after this rankings announcement, this crypto could easily surge to over $1 in a few months.
You are probably thinking, how will it rise when China has been cracking down on crypto projects for the last few months? Well, Bytom (BTM) happens to be one of those cryptos that are in the good books of Chinese regulators. Like NEO, Bytom has fully complied with the Chinese national encryption standard. Being in the good books of the authorities’ means investors have the confidence to continue investing in Bytom on the basis of its fundamentals, while knowing that it will never be shut down by the government.
Outside of rankings and the Chinese government regulatory framework, investors actually have an even bigger incentive to put money in this crypto, and that’s passive income. That’s because Bytom is making use of cross-chains, to distribute dividends to investors. Simply put, if you invest in this coin, you earn regular dividends. In a highly volatile environment like the one we are in right now, the ability to earn some dividends from a crypto investment will definitely push investors towards Bytom.
Going by this confluence of positive factors, Bytom (BTM) might easily get to $2 within 2018. This would be a great return given that it is currently priced at less than $0.50. In fact, even getting to $1, would still be a massive gain for investors, given the depressed nature of the crypto market at the moment.