Many people saw this coming and warned people about it too; except a few YouTubers who had referral links to shill. If you saw this post on BitConnect by 
From $491 a month ago to under $20 today, BCC has lost it.
The price went under $20 briefly.
The BitConnect website had such a rush to it that users were unable to login to sell their coin for some value and make financial transactions.
This is what users saw for hours.
An official statement on BitConnect website read.
This is to inform all community members that we are closing the Bitconnect lending and exchange platform. We are closing the lending operation immediately with the release of all outstanding loans. With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. This rate has been calculated based on last 15 days averages of the closing price registered on coinmarketcap.com. You are free to withdraw your BitConnect coin currently in QT wallets that was used for staking as well. We are also closing BCC exchange platform in 5 days. In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes.
Read more via the link above. At the time of
PS: Make your decisions carefully if you are invested into BitConnect coin or platform.