Bitconnect Coin Price Last month on the 10th of June, the Bitconnect coin, better known to the community as BCC, reached an all-time

Bitconnect Coin Price Reaches All-Time High in June, Briefly Surpasses Growth Rate of Ethereum

Bitconnect Coin Price Reaches All-Time High in June, Briefly Surpasses Growth Rate of Ethereum

Bitconnect Coin Price Last month on the 10th of June, the Bitconnect coin, better known to the community as BCC, reached an all-time

FOREX INVESTORS BUZZ PRESS RELEASE Bitconnect Coin Price Last month on the 10th of June, the Bitconnect coin, better known to the community as BCC, reached an all-time high price at $59.24. The price of BCC increased from $1.76 to $59.24 within a three-month period, recording a staggering growth rate of 3,265 percent.

Since the beginning of 2017, the cryptocurrency market demonstrated an exponential growth rate, achieving a historic milestone on June 9 by surpassing $100 billion in market cap. Prior to this recent dip, the cryptocurrency market cap was valued to be $113 million at one point, with Bitcoin capturing 37.8 percent of the market.

“The fact that these gains have come from currencies other than Bitcoin are a good sign that this is less of a bubble and more of a resurgence of interest in crypto,” said Techcrunch journalist Fitz Tepper.

A major catalyst that contributed to the rapid growth of the cryptocurrency market was the global adoption of Bitcoin and Ethereum, two of the largest cryptocurrencies with a combined market cap of $77.6 billion. Since mid-2016, the demand toward Bitcoin as a safe haven asset and digital gold surged as mainstream media outlets began to provide extensive coverage on its performance.

 



Bitconnect Coin Price

International newspapers including the Wall Street Journal continuously featured Bitcoin on their front page, comparing the price trend of it to that of gold and the US dollar, the world’s largest asset and reserve currency.

As interest and demand toward digital currencies such as Bitcoin and Ethereum increased, a growing number of investors started to take interest in other cryptocurrencies in the market such as Litecoin, Ethereum Classic and Bitconnect that are amongst the largest cryptocurrencies and networks.

At the time of reporting, the market cap of Bitconnect, a crypto-network better known for its bitcoin lending platform, remains at around $346 million, making the Bitconnect network the 22nd largest cryptocurrency and blockchain network globally (editor’s note: the Bitconnect network is now ranked 10th).

Bitconnect’s three-month growth since April has been larger than that of most cryptocurrencies including Ethereum. Since April, Ethereum has recorded a 858.9 percent increase in price, from $39 to a peak at $374, triggering the interests of investors that have become enthusiastic of the launch of the Enterprise Ethereum Alliance (EEA) and the rise of initial coin offerings (ICOs).

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USDCAD: Trading the Canadian Employment Change

USDCAD Canadian Mfg. Sales Sparkles, Briefly Pushing Loonie Higher

USDCAD Canadian Mfg. Sales Sparkles, Briefly Pushing Loonie Higher

USD-CAD

  • Buz Investors Canadian Mfg. Sales Sparkles This morning at 09:40 GMT, the USD is trading at 1.3069 against the CAD, 0.44% lower from the New York close.
  • With no economic releases in Canada today, market participants would look forward to global events for further direction. The pair witnessed a high of 1.3131 and a low of 1.3058 during the session.
  • In the New York session yesterday, the US Dollar declined marginally against the Canadian Dollar to close at 1.3127. Immediate downside, the first support level is seen at 1.3029, while on the upside, the first resistance level is situated at 1.3139.

Canadian Mfg. Sales Sparkles Canadian dollar has posted slight gains

 Canadian Mfg. Sales Sparkles

Canadian Mfg. Sales Sparkles Canadian Manufacturing Sales impressed in August, posting a sharp gain of 0.9%. This marked a 4-month high and points to stronger activity in the manufacturing sector, which has struggled in a weak global economy. Over in the US, consumer inflation numbers were mixed. CPI edged up to 0.3%, up from 0.2% a month earlier. This was the strongest gain since April. Core CPI went the opposite direction, slipping to 0.1%, down from 0.3% a month earlier. These numbers could have an important bearing on the Fed’s interest rate decision in December. Currently, a December rate hike is currently priced in at 64 percent. Meanwhile, US consumer spending impressed in September.

 Other Stories Buz Traders Follow

Retail sales gained 0.5%, while core retail sales jumped 0.6%, as both key indicators rebounded from declines in August. PPI was steady at 0.3%, but the UoM Consumer Sentiment Index disappointed, dropping to 87.9 points and missing expectations. This marked the weakest reading since September 2015.

Intraday bias in USD/CAD remains on the downside or 1.2999 support. As noted before, price actions from 1.2460 are viewed as a consolidation that should be limited by 38.2% retracement of 1.4689 to 1.2460 at 1.3311. Break of 1.2999 will affirm the case of near term reversal and target next key near term support at 1.2763. However, sustained break of 1.3311 will extend the rise from 1.2460 and target 1.3838 fibonacci level.

In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Such correction could still extend lower and below 1.2460 will target 50% retracement of 0.9406 to 1.4689 at 1.2048, which is close to 1.1919 medium term support. We’d expect strong support around there to bring rebound. Meanwhile, sustained break of 38.2% retracement of 1.4689 to 1.2460 at 1.3311 will raise the chance of reversal and target 61.8% retracement at 1.3838.