When Bitcoin goes through the seemingly inevitable "correction", what do you predict will happen with Bitconnect?
Thus far, BCC has mirrored BTC remarkably well, so if BTC crashes it follows that BCC will pullback as well - but does it even matter?
- BCC lending valued in USD, not BCC
- with the interest determined by the "volatility software", could a BTC crash actually be GOOD for BCC lending returns?
Related to segwit2x, do you think it is more favorable to hold BCC or BTC during the fork? (comparing appreciation in BCC vs. getting B2X tokens + BTC)
Hey @rurdy4sumfutbalz! As long as BTC remains volatile while undergoing a natural correction in price, the average daily interest rate on BitConnect will continue to hover around 0.8-0.9%. Of course, it is only the BTC price at 8 pm EST (now 7 pm EST in the US thanks to DST) that will determine the daily BCC interest rate.
When BTC falls, BCC will most likely fall in USD price as well but will probably experience only a small difference in BTC value. Since its inception, BCC is the only altcoin that has experienced a linearly increasing growth in BTC value. Again so long as BTC remains volatile (at least +/- 2% change in price each day), BCC lending returns will continue to remain good (at least 0.8-1% each day).
I think for this SegWit2x hard fork, it will be more favorable to hold BTC so that you can get an equivalent amount of B2x tokens after the fork. But I can also understand holding some BCC tokens (which generally appreciate in value) during the fork, especially if you decide to get staking rewards. I haven't ventured yet into staking only lending and holding BCC tokens. Good question!