BitConnect has dealt with some major allegations over the past few weeks. Numerous people claim this is a pyramid scheme waiting to collapse. Whether or not that is indeed true, remains to be determined. The BCC price has gone through some interesting motions as of late. After surpassing $200 multiple times, BCC is down to $189 again.
To put this price momentum into perspective, BitConnect recently dipped to $179. Seeing the BCC price rebound to $189 so quickly is pretty significant. This seems to indicate a lot of people want to make some good money as far as this altcoin is concerned. The momentum presented by BitConnect has attracted a lot of new investors, to say the least. People should only invest the money they can afford to lose if things go awry, though.
Momentum is Still in Favor of BCC, for now
Whether or not BitConnect will surpass $200 again, remains to be seen. It is certainly likely, but it will not necessarily happen overnight. There is plenty of positive momentum to keep an eye on. At the same time, the trend can reverse at any given time. This is true for all cryptocurrencies and not just BCC, mind you.
BitConnect still has a strong trading volume of just under $12m over the past 24 hours. As long as this number doesn’t go down, there will be more money to be made by BCC. Manipulation is part of the game, after all, and low-volume coins are subject to volatile movements. Especially now that Bitcoin is going up and down every day, it is difficult to gauge how markets will evolve.
As is usually the case, the BCC Exchange platform generates most of the trading volume. Its price is lower compared to Livecoin , though, which is unusual. The difference is pretty small but still worth taking into account at this point in time. It will be interesting to see how things evolve for BitConnect moving forward.