It's completely incomprehensible to me that Bitconnect still has a market capitalization of nearly $ 400 million. A company without a business and without a serious business concept is valued at 400 million, you have to imagine that. That is one third of Steem's market capitalization.
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The people out there doing Technical Analysis while ignoring Fundamentals would have seen BitConnect as "Oversold" and bid it up from the lows, giving us the dead-cat bounce. Others who were burnt are probably thinking it's not worth selling and will just HODL and hope.