Good evening everyone. I have been monitoring proceedings in the cryptocurrency sphere. Some weeks back bitconnect made this statement
" BitConnect Coin are limited in supply to 28 million and there are currently only 9.6 million in circulation.This scarcity of supply should create a market demand, with help and support from the community, once this new exchange begins operation.
We still expect BitConnect coin (BCC) to gain its value back and you can hold your coins in the website wallet or transfer them to a QT wallet.
We apologize for this inconvenience and we are working to get things corrected for this community and platform."
I had moved my coin out of bitconnect, but brought it back as a result of the statement above. Though at the moment, nothing much has happened. Cryptocurrencies be it bitcoin, bitconnect ethereum etc are all going through though times. Some of us that have been following the news know this. Some don't know. From the research I have done, it is a historical trend. The cryptocurrency market at the moment have lost more than 60% of its value. This shows its volatile state, making it to be the most risky investment option, as well as the most profitable.
So, what's the way forward? I think we have to be patient and allow the market to recover, which is always the case. How long will the market take to recover? From history it should start from March. Once it does, we will know where we stand, and what to do to move forward.
Pls refer to these artilces I wrote for one of the biggest forums in Nigeria.
http://www.jackobian.com/threads/lessons-from-the-death-of-bitcoin-several-times.83498/
Pls remember, that your money is not lost, unfortunately they are in the native bitconnect wallet which has lost its value drastically, although more than other cryptocurrencies. Thus we can consider this as a loss too technically. Since if we have to withdraw it, what we will get as cash, will be far less than what we invested.
Side note:
For me I have most of my money in bitcoin. And I have lost a great deal. My second name now is "a patient dog eats the fattest bone", which has always been true in cryptocurrency world based on history (yet anything can still happen). However am not worse of than those that have lost billions within a month.
Despite this situation, do I intend leaving the cryptocurrency business. My answer is no. You too can answer for yourself
ā#Teambassey
