BitConnect — Just how far can it possibly go?

BitConnect is now in 8th place on the CoinMarketCap.com cryptocurrency list with a coin price of $205 and a market capitalisation of $1.5B.

What's really interesting to see in the table is where Dash is in comparison. Both coins have pretty much the same circulating supply of around 7.5 million.

Dash is in 6th place, it has a large, well known, and very active development team. The project is very much driving to achieve mass adoption and the project has some great features like a self-funding development model and decentralize governance via masternodes.

BitConnect don't have any of those things but yet it's now positioned above Neo and Monero. At the current rate, it should be on track to overtake NEM (which is has great utility) in a few weeks and probably even Dash too shortly after. Just how much further it could go beyond that is anybody's guess.

They say that coins increase in price because of the network effect, clearly BitConnect has one of the strongest and biggest network around. It's pyramid style referral scheme undoubtedly helped in this regard.

BTW watch out for the new version of BitConnect called EthConnect. Logic says it could not possibly replicate the apparent success of BitConnect, but I wouldn't put a bet against it. Read about my comparison between BitConnect and EthConnect if you are curious to find out why they are basically the same.

How much further can it go?

It'll be very interesting to see how much further BitConnect can go. Could it overtake Litecoin — cryptocurrency's silver as well this year? Charlie Lee had better watch out!

Let us know what do you think about how far BitConnect could go?