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Here’s How BitConnect (BCC) Could Become The Safe Haven Cryptocurrency

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At the start of 2017, BitConnect (BCC) launched as a sort of store-of-value alternative to the existing raft of cryptocoins that were available at that time. Mid-January (so, a little over under twelve months ago), BCC traded hands for around $0.20 a piece.

Right now, BCC is at $456.

Wider markets and the general public outside of cryptocurrency are looking at the gains they missed out on by not picking up a handful of BTC back in 2011. Very few people are talking about the close to 23,000% gains seen in BCC, however.

That is, until now.

The coin is finally starting to pick up some mainstream attention and – as might be expected – is running on the back of the added volume that this sort of attention spike brings. Over the last twenty-four hours alone, $55 million worth of BCC has changed hands. The coin is now well into the top twenty existing coins by market cap, coming in at number 17 at the latest count with a total capitalization at current prices of $2.8 billion.

So here’s the million-dollar question – what comes next?

Can this one continue to run and – if so – where?

To try and answer this question, we’ve got to look at what’s driving the action in the first place. So, let’s do just that.

We mentioned above that this coin is a store of value coin but let’s go into that in a bit more detail. Back when bitcoin and – subsequently – Litecoin first hit the markets, they were deemed value exchange tokens. That is, they were pitched as (and eventually became) transaction tools that people could use to send and receive money quickly and cheaply. Right now, of course, bitcoin is experiencing some scaling issues that are hampering its ability to fill this use-case but there’s a strong chance (based on the Lightning Network, Atomic Swaps, etc.) that these issues will resolve. That’s not really important here, however, it’s more of a side issue to our expectations for BCC.

BCC Daily Chart

BCC Daily Chart

What is important is that BCC was designed from the start as a store of value. You’d buy it and hold it, as opposed to buying it and sending it to someone else. And the way that the guys who created the coin built this store of value feature into BCC was to incentivize holding by adding an interest function into the coin.

When you hold BCC, you receive interest on your coins. There are no other (mainstream) coins that allow this and those that do are generally also alternative function coins – that is, situations in which the coins are also used for some other purpose within the platform or the application with which they are associated.

So how do the numbers stack up?

There’s a maximum coin supply of 28 million and, right now, total circulating supply is around 6.5 million. This means there are still plenty of coins to be mined but – just as with bitcoin – the difficulty associated with the mining of these coins increases over time, which helps the supply to maintain the deflationary aspect of bitcoin that makes it attractive in this sort of respect.

Let’s bring all this together, then, to try and answer our initial question – can this coin continue to appreciate heading forward?

In a word – yes.

The reason that this one is so interesting is that while this market continues to expand, there is going to have to be a form of value storage that comes to the fore. Right now, bitcoin is, to a degree, filling this gap. Once the transaction issues are resolved and bitcoin once again becomes a transaction play, investors are going to start looking for those stores of value that actually offer traditional returns on storage – like interest.

We will be updating our subscribers as soon as we know more. For the latest on BCC, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of BitConnect

Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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