Bitconnect (BCC) was just above $0.16 this January after ICO with a market cap of around 800000 USD and now at the time or writing this blog it is trading around $ 54 with a market cap of around 373000000 USD , according to coinmarketcap.com
What could be the reason for such a growth in such a short period of time?
After a brief research on the subject I discovered that Bitconnect has a lending platform which allows investors to lend Bitconnect on their lending platform to which they earn some profits on daily basis. The daily payouts depends upon the bitcoin price volatility , and bitcoin trading bot.
Couldn't figure out whether this is a great business opportunity or just a ponzi scheme.
Good!
I've been doing bitconnect for 2 months now and they never missed a payment so far . if you do sign up I will give you 50% of 7% commision if you use my link https://bitconnect.co/?ref=bobobjohn
And how do they manage to pay daily payouts in this volatile market?
they trade the volatility of bitcion. Daily payments average out to about 1% but range from .6%-1.8% depending how volatile bitcoin is
I saw someone say they are closing new loans at the end of this month, right before taxes are due, I would wait to see what happens.
Keeping an eye on bitconnect. Let's see where does it moves.
They also dont disclose any information as to who owns the company, and the Domain was registered privately, along with the too good to be true ROI, I wouldnt invest in this site
When someone promises me big ROI,i walk away.Simple. :)
Well even I think it's too good to be true.
Yes