The emergence of Bitconnect lending program in 2016 made cryptolovers happy for this is an opportune time to have good investment. At the beginning it was branded as would-be scam like almost HYIP (High Yield Investment Program).They could not believe that one could earn almost 35% a month. There were only few investors who jumped into this program, they were the first batch risk takers.
As speed of light, the impact of the profits brought by this lending program attracted the next batches of risk takers crypto investors until this scheme became a 2017 phenomenon. Bitconnect was able to establish a good reputation.
Because of the crown bitconnect had. Other lending programs emerged having professional websites and rigid campaign. Many have invested into their ICOs (Initial Coin Offering).
January 16, 2017 was the moment of truth, the bitconnect closed down their platform by making an exit reasons leaving many investors hanging into the air, their big money was blown away. Since Bitconnect was the mother, she brought a domino effect to other lending programs that cause distrust from investors but still many became victims of this lucrative profits - including myself - a great investing lesson.
good post :) g/m upvotes
Thanks!