The BitConnect glitch allowed for its users to double their BTC coin and that caused for people to take advantage of this situation. With these duplicated BTC coins the culprits bought up BCC coins which caused a heavy run up in price to $155. These culprits withdrew these duped coins and unloaded it onto other exchanges which quickly ate up the buy wall and dropped the price of BCC to $25. This swing in price triggered the website's circuit breaker which shut down the site the moment there is a change in the BCC price of 10%. BitConnect is working hard to resolve this problem and they will be back online on August 27th 3:00 pm.
During this period while BCC is down these smaller exchanges offer BCC tokens at a lower price then what it was before the runup. There is still an opportunity to buy BCC at ~ $100 on livecoin.net & novaexchange.com as of now so take advantage of this pricing while the site is down.
What is volatility based circuit breaker?
Why am I not able to make lending deposit or transfer my lending wallet balance to BitConnect wallet?
BitConnect has implemented volatility based circuit breaker to BitConnect lending and transfer system. The volatility based circuit breaker system applies while BitConnect Coin (BCC) cross 10% level of price movement. The volatility based circuit breaker is triggered by price swings in either direction.
BitConnect shall compute the volatility based circuit breaker for 10% level on a daily basis based on the previous day's closing price of BitConnect Coin. The extent of duration of the lending and transfer function halt and re-open session is 2 hours.
The Volatility circuit breaker has implemented to combat panic on BCC Exchange and excessive volatility in BCC price- large price swings in either direction. The Volatility circuit breaker temporarily halt lending and transfer function when BCC price hit pre-defined level of 10% intraday price swings in either direction.
Bitconnect reserves the right to adjust this policy as necessary to ensure the continued operations of the Bitconnect service.
Thx for the info... I will check that out right away on that site.. upvoted..I am Into photography and art...plz do check my post for your support .. Thx .. followed u now.
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Right on David. Upvoted your comment and followed.
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Thx u... plz if u less busy support my Art drawing post plz ... Thx.
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You got it David.
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Appreciated.. Thx for your support... looking forward your support on next post. #Team #Success..
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So informative ....Upvoted... and share.. thx for this information... will love to try this..followed u.
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