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BitConnect Recovers Following dip After Recording new All-time High of $446

by on December 11, 2017
 

It has been a rather interesting week for BitConnect, to say the least. Although the value per BCC hit over $400, things have certainly taken an interesting turn. With the value now down to $378 once again, new investors will undoubtedly enter the ecosystem. There was another big dip a few days ago as well. Rest assured people will keep a close eye on what BitConnect will do in the very near future.

The year 2017 has been pretty positive for this particular currency, to say the very least. While most people are surprised the value increased so much, it is only natural. BitConnect has made a ton of headlines, and it will continue to do so for quite some time to come. The big question is what the value of this altcoin will be in a year from now. For now, no one can make any accurate guesses in this regard.

BitConnect Approaches $2bn Market cap Again

More specifically, the BitConnect price rose from $319 to $446.78 in a few days time. Such gains are not uncommon in the world of cryptocurrency, mind you. However, there are some concerns over BitConnect, as speculation is running wild on this front. Some people claim this is a Ponzi scheme, whereas others think it is the greatest invention since Bitcoin. Everyone is entitled to their own opinion, yet it doesn’t appear to affect the BCC price all that much.

After hitting that all-time high of $446, the BitConnect suddenly declined by quite a margin. When everything was said and done, the BCC value dropped by $335 again. A lot of profit taking is to be expected every time BCC gains a lot of value. Rest assured there will be more dips in the future, though. Every dip is a new buy opportunity for people who have not taken the plunge on BitConnect yet.

For the time being, BitConnect has a very low trading volume. With just $842,150 in trades, the volume is less than 5% of what it normally is. BCC Exchange has not reported any trading volume in the past 24 hours, which is somewhat surprising. Despite these odds, the market cap is still approaching $2bn once again. It will be interesting to see what the future holds for BCC in this regard.

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.
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