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Positive Momentum Continues to Push the BCC Price Toward $175

by on October 11, 2017
 

As we touched upon a ¬†few days ago, the BCC is on the move again. With BitConnect going up in value sharply, reaching $160 was only a matter of time. Today, the currency is valued at $164.71 and the momentum isn’t slowing down in the slightest. Good things continue to happen for holders of this altcoin, that much is certain.

No one should be surprised to see the BCC price surpass $160 so easily. The momentum has been in favor of BitConnect for quite some time now. More importantly, it will not change course either, by the look of things. Then again, the previous BitConnect price dips came out of the blue as well. Nothing is certain in the world of cryptocurrency, which is only to be expected. A free market will always be volatile in one way or another.

BCC Stays the Course Toward $175

One could argue the BCC value is spiking due to the Bitcoin price momentum. While this is an attributing factor, it doesn’t tell the whole story either. BitConnect gains value in both USD and BTC markets as of right now. More specifically, the BCC/BTC rate has gone up in favor of BitConnect by 2.34% over the past 24 hours. It is only a small gain, but one that shouldn’t be overlooked whatsoever. Other altcoins still continue to suffer due to the recent Bitcoin price increase.

For the time being, everything looks great for BCC holders. The momentum is a lot more positive than most people expected, which is a good thing. Whether or not we will see more positive momentum in the future, is difficult to predict. We have to keep in mind this is a new all-time high for BitConnect. Such a positive trend will be met with resistance and profit-taking sooner or later. When that will happen exactly, remains to be determined. For now, it seems reaching $175 is possible, but not necessarily a given.

Thankfully, BCC still has a strong daily trading volume. With nearly $13m worth of BitConnect changing hands over the past 24 hours, everything is falling into place for this currency. Once again, things may turn around at any given moment. The volume on LiveCoin and NovaExchange is going down slightly, which is a troublesome sign. Then again, they remain small fish in the pond compared to BCC Exchange.

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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