Did Anyone Pay Attention To Bitconnect's Volatility Over The Past 3 Days!?!

The Christmas holiday weekend brought more with it than just family and gifts, extreme volatility in the crypto currency market! I don't know about you, but my Christmas revolves around traveling to see/hang out with family that I see only once or twice during the holidays. After the hugs and small talk, there are normally those moments of awkward silence; I use those to my advantage by looking up current news on sports and whats new in the crypto world! We got snowed in this year so I had a lot of extra time to stay caught up with coinmarketcap; and, one coin caught/kept my attention, Bitconnect!

There has always been a lot of controversy surrounding Bitconnect: its unsustainable business model, ponzi related scheme accusations, mass panic with FUD constantly spread across forums, etc. Over the last 3 days Bitconnect has experienced such a rapid drop in market cap while increasing the available supply to 6 million coins. What does all of this volatility mean? Is the game finally over or is this simply a market correction that is simply taking a hit from Bitcoin's slump combined with FUD?

Just like all investing, Bitconnect and the crypto world pose A LOT of risk. They are highly volatile while achieving unfathomable financial gains. I personally believe in the crypto revolution because blockchain technology will eventually replace/takeover as our means of transacting within society. Crypto currencies exploded in growth this year; which, I mainly attribute to the growth within the alt coin community and general growth in awareness of Bitcoin/crypto currencies. As the amount of users continue to grow, I see this growth trend continuing within the crypto world in 2018 as fresh money/investors/crypto-believers flood the market. One of these alt coins/attractions of crypto currency are the lending platforms like Bitconnect; and, with this predicted uptick, there will be increased attraction/risk associated with using these platforms.

For all the risk, Bitconnect has survived a long time! However, all good things must come to an end eventually. Prior to the Christmas weekend, Bitconnect was pushing strong and had a market cap of over 2 billion dollars. Over the weekend they introduced more supply, people started to panic, and at one point the market cap had shrunk down to 1.3 billion dollars. Before I went to bed last night I had been monitoring and saw the correction was hovering/staying around that 1.3 billion mark. To my amazement, I woke up 7 hours later to see Bitconnect skyrocketed in value over night! Over three days it lost over 700 million dollars just to regain it in less than 12 hours, how does that happen!?!

Personally, I only just hopped on the crypto currency train this month and I was hoping that I wasn't late to the Bitconnect party. Hearing about Bitcoin/Bitconnect is what got me hooked and started my journey to learning as much as I could about this massive community/crypto world. So far I have only invested a couple hundred dollars within the Bitconnect platform. Up to this point, it has worked flawlessly; which, has inspired me to strongly consider investing more into the platform. But, as with all good things being too good to be true, I know its only a matter of time before it ends. Through all my research I truly thought this platform could go another year, maybe 1.5 to 2 years; but, after this weekend, I am not sure what to believe. In my short time learning about crypto currencies I have seen the market be manipulated a lot and this recent swing in value has really got me nervous!

What do you think? Please feel free to share your opinions/thoughts. I plan on waiting a week just to see how everything plays out before investing more. Am I being too naive/suckered into the hope of making a lot of money or is this just another bump in the road during a long trip for Bitconnect? I would love to hear what other people think and if they are continuing to invest more money or waiting it out a couple weeks to see what happens!

Thanks for reading!

-nastyneste