Why Did Bitconnect Drop From 7th to 14th In Total Market Cap
For those of you wondering why the sudden fall in Bitconnect's market cap, here are a few points to consider.
1. Less Circulating Supply.
If you go to coinmarketcap.com you will notice that the circulating supply of BCC has been reduced, causing the market cap to lower.
Lower circulation equals lower market capitalization.
After doing enough research, I consider this to be a good thing. The lower the quantity of a highly demanded coin can only mean one thing... the price will continue to rise.
2. Compensation Plan.
The Bitconnect platform has adjusted their compensation plan, reducing payouts from tier 1 to 5 to only tier 1 to 3. This may have caused a few investor to pull their returns out of the platform.
This again is considered a good move from a long-term business standpoint. Paying out 1% return to lenders is a very generous amount as it is. This move will allow people to stop making their main focus to be referrals but to invest more in the platform, guaranteeing a healthy growth for Bitconnect and all investors.
Although the market cap for BCC has dropped, the price per token is still increasing, and more investors continue to join the platform.
A lot of people are questioning if Bitconnect will hold up for the long-term, I think it will last as long as Bitcoin last and we all know that Bitcoin is here to stay.
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STOPNice post, I also heard it had something to do with the staking on Bitconnect coins those coins are not considered in circulation? I'm not too concerned so i didn't do too much research
As far as I understand the circulating supply that was shown before was not accurate. It was considering loans and stakings, now that has been removed, hence why the price stayed the same and continues to rise.
Fear is powerful emotion that will cause individuals to respond in different ways. Your article will relax those fears in the minds of many. Thank you for your article and keep writing.