It has been an eventful week for BitConnect, to say the very least. There has been major price volatility across all exchanges. Less than a week ago, BCC reached $300. That was only a brief success, though, as the value has declined ever since. The big dip occurred a few days ago, but it seems the market is slowly recovering as we speak. How things will play out, remains to be determined.
The BitConnect price has seen a weekly high and low in quick succession. The all-time high of $300 as pretty spectacular, but got rejected pretty quickly. Thanks to a steady decline, the price went down to $208.49 a few days later. Ever since that time, it has remained pretty volatile. The Bitcoin Cash shenanigans have affected every cryptocurrency out there. That also means BCC didn’t get out unscathed whatsoever.
BitConnect is Recovering Lost Value
Over the past two days, we have seen some interesting changes. More specifically, BitConnect is on the rise again. The price surpassed $250 earlier today but is now suffering a bit. It is difficult to maintain this price, which is only to be expected. There is still a solid 9.7% gain over the past 24 hours to take into account. Moreover, BCC gained 3.63% against Bitcoin as well. An impressive development, although the volatility will remain in place for some time to come.
How things will evolve in the coming days remains pretty uncertain. BitConnect still has a strong daily trading volume of over $18.6m. This is a few million lower compared to last week, though. It is nothing to be overly concerned about, but something to keep an eye on as well. With slightly more volume, we may see BCC go up past $250 permanently once again. At the same time, another dip is not out of the question either.
Anyone not trading BitConnect on BCC Exchange is missing out. There are a few new exchanges for BCC, including HitBTC and Trade Satoshi. Neither of these platforms generates any major volume right now, though. The place to be is BCC Exchange, which generates 95% of all trades. An interesting situation lies ahead for BitConnect, that much is certain.