What are you(BitConnect) doing here?
Good day, in this topic i would like to find out why BitConnect has so big MarketCap. And why it is on the 13 place at coinmarketcap.com. Lets delve a little bit deeper.
1 Website and traffic
Website is the face of the coin and lets analyze it. According to SimilarWeb it has 570.2K views per month. Enormous amount of visits\traffic means the grate future of coin you would say but do not make so fast conclusions.
Regarding traffic from counties :
20.43% from United States,
5.82% from United Kingdom
3.48%from Brazil.
I have no question regarding these 3 guys:) There is traffic from well-developed countries with investors and people with money but there are also some countries that has low quality of life:
Viet Nam 9.46%
India 3.40%
Rating of the living standards of the population of VietNam is 109 and India has 124 . It is sadly in comparison with US and UK. I am getting at that people has interest in this coin but they do not have money to invest.
God try, but why it has so big market cap and 13 position?
2 Market cap
On the 21th of September BBC has cap of $784,499,244 dollars and 24h volume is $7,279,260 dollars. BUT!!
93.57% of total 24 supply circulation from one exchange - BCC Exchange. It explains everything. Did you get it?
Just imagine that one day this platform will have some troubles like btc-e and take into account there are no well-know exchanges with BCC like Bitrex, Poloniex, Bitfineix. The price of this coin will turn to dust and you wont be able to sell it somewhere. Al in all , what prevents this exchange increase BCC volume by cheating??
From the graphic you can see that the price rockets in the very beginning with huge volume but now people are losing interest to it.
3 May be its world changing coin with special Technic?
It has PoW/PoS algorithm , provides security, decentralization and so on. We have seen all these many times in different coins. Nothing new.
By analyzing coins i have found out if the coin is described like in this pcture it has nothing to offer. To my mind, you can use it to trade during day, but if you are going to invest into it you won't get much you will probably lose.
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