Bitconnect falls
Today the following announcement was made detailing the shutting down of bitconnect lending:
Without bitconnect lending the BCC is just another sh**coin. As expected the coin has plummeted however not to zero. It trades at $32 at current time but may reach zero in the near future. The $2.7 billion dollar ponzi scheme has finally finished.
It is likely this is having a knock on effect of loss of confidence in the market. A time when confidence was already very low.
Personally I see this and the asia problems a chain of events that may pop the bubble, confidence has been low since the $20,000 dip in bitcoin. Maybe not though, make your own mind up.
One positive outlook is crypto can be built back up the right way. Bubbles are common in markets, sometimes they get big, particularly when retail investors are involved. At the very least
This is just my opinion though so do your own research and certainly don't invest based on just what I have said.
Please upvote/resteem if you like this post and comment to let me know your opinions. Thanks for reading.
Lmao. I can't wait to see what all the Youtubers who endorsed it have to say!
I have a feeling alot of them will never log in again. Hopefully they make apology videos. They helped the scheme get so big, honestly they maybe liable to criminal charges.
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