It seems BitConnect is turning into a seriously volatile market right now. More specifically, the BCC value fluctuates on a daily basis right now, whereas it was pretty steady upward a few days ago. It is unclear what causes this sudden change, but it doesn’t bode well for the future of this cryptocurrency. Right now, one coin is worth $295, which is on par with two days ago.
A lot of people have been speculating on the future of BitConnect After a very bullish year, it is evident things have to settle down eventually. That is much easier said than done, as BCC is anything but stable right now. In fact, it is almost more volatile than Bitcoin itself. While the price difference is smaller, the trend is pretty erratic regardless. In fact, it has been pretty negative these past 24 hours, with little to no improvements in sight whatsoever.
BCC Value Proves to be Rather Erratic
Why this is happening right now, remains to be determined. The value of BCC has trouble remaining stable above $295 right now. With a dip below $290 earlier today and a peak of just over $300, there are opportunities for daytraders. Whether or not it is worth their while, is a big question mark. One thing is certain: BitConnect lost much of its allure these past few days
It is also worth noting the BCC trading value is declining a bit. While nearly $20m is still pretty solid, it is a few million less compared to earlier this week Demand for BitConnect seemingly isn’t there anymore, which is rather surprising. At the same time, the currency has had a pretty good year already. There is only so much momentum to go around. For now, it seems BCC is all but tapped out in this regard, at least for now.
Although BCC Exchange is still doing its part, the rest of the exchange sees less volume as well. Livecoin is the only platform that really matters in this regard, with HitBTC barely clinging on. It will be interesting to see if BitConnect can make another strong push toward the end of the year. Racine $400 will be a major stretch, though, but we have seen stranger things in cryptocurrency.