The roller coaster ride known as BitConnect is far from over, by the look of things. We have seen some wild price swings over the past few days. For speculators, this is a perfect scenario, as they make a lot of money in the process. For everyone else, the search for a stable BCC price continues. So far, the BitConnect price surpassed $325 again, but things can always turn around.
It is evident all cryptocurrencies and assets struggle for price stability. BitConnect has not been any different in this regard whatsoever. Over the past few weeks, we have seen some big dips on the charts. Prior to this momentum, the price has grown steadily, but it seems there is more market opposition right now. For speculators and day traders, BCC is the perfect tool to play around with right now. A lot of money can be made or lost in quick succession.
More Gains for BitConnect Holders
To put this into perspective, the BCC price has risen to $320 and beyond on three different occasions this past week. It has also dipped below $300 three times. It is a fine balance between the two, but not something one would expect from this currency whatsoever.After all, investors are mainly used to stable price momentum, but that is no longer the case. At the same time, more buy opportunities will eventually result in coins being distributed more fairly.
With the BitConnect price now back above $325, it will be interesting to see what happens next. The all-time high for BCC is near the $340 mark. Reaching that value once again will not be easy whatsoever. However, there is enough positive momentum to push the value up slightly in the coming days. Those people who bought at $290 will be looking to cash out profits sooner or later, though. An interesting tug-of-war to keep an eye on.
Thankfully, the BitConnect trading volume is still in place. With nearly $20m worth of BCC changing hands, things look promising. It also appears the circulating BCC supply has gone up a bit, which explains how the market cap is back over $1bn. How things will play out for BitConnect, remains to be determined. It is evident there is money to be made, despite the obvious risks.