It doesn’t happen all that often we see a rather flat trading chart for BitConnect. In most cases, we see the price go up and down quite a bit every single week. So far, things have been rather disappointing over the past seven days. After the big dip to $247, the BCC price has remained stable for the most part. Remaining above $300 is still pretty difficult, though, that much is evident.
From a speculative point of view, it is safe to say the BitConnect price has hit a temporary glass ceiling. After its initial surge toward $300 and more, not much has happened. Barring a few price dips in the past week, the BCC value hasn’t moved all that much. There were some opportunities to flip coins for small profits, but nothing that really stood out. It also appears the “big gains” for BitConnect are pretty much over, at least temporarily.
A Near Status Quo for BitConnect
That doesn’t mean the BitConnect price won’t move up again in the future, though. Right now, it seems the market is trying to create stable support at $300. Given the amazing year this currency has had, it is important to end on a high note. Anyone who hoped for $400 before the year is over will not be too happy with how things are going right now. Then again, there are still five weeks left in the year, and interesting things could happen in the month to come.
With a trading volume of $28m in the past 24 hours, it seems the demand for BitConnect is still there. We also see some small signs of volatility, although both dips were bought up incredibly quickly. Anyone who manages to buy in at $280 or slightly lower is already in profit right now. Any attempt by the market to cross $300 gets rejected pretty quickly, though, which is a worrisome sign. Speculation is driving most cryptocurrency markets right now, and it seems BitConnect can’t escape this cycle either.
With BCC Exchange still dominating the market, it seems evident there will be some BitConnect price stability soon. No one knows for sure at what level that stability can be found, though. Livecoin and HitBTC still struggle to generate a decent amount of volume these days.Rest assured a lot of people will keep an eye on BitConnect over the next few weeks. This is still a remarkable digital currency for many different reasons.