As I stated in my last post, Bitconnect continues to surprise many, much to the chagrin of its 'haters.' I say 'haters' because many despise Bitconnect and its platform without even knowing what it is about. Some dislike the MLM aspect of the platform, which is only a part of its function but not necessary to participate and/or succeed. Others mock its Bitconnect coin which is now 100% officially trading on HitBTC, one of the largest cryptocurrency exchanges. The hate stems from the belief that Bitconnect and its platform is a ponzi scheme, a pyramid scam and its imminent failure (haters/naysayers predict) will discourage many from the crypto-currency market.
At this point, Bitconnect is just about 2% of Bitcoin's market cap, and less than 1% of the Overall Crypto-currency market cap. The belief that Bitconnect's current success to be followed by its ultimate Failure will "ruin" the world's taste for Bitcoin and crypto-currencies is baseless due to BCC's small fingerprint on the overall market. The fear that it will become a bigger failure that the Bernie Madoff scandal has many worried and spewing negativity with incorrect facts. Instead, what I see is potential opportunity for Bitconnect to grow to 5% or 6% of Bitcoin's Market Cap, for a nice 2x or 3x return on my money.
At this point Bitconnect continues to surprise many with its meteoric rise, while garnering the hate and dislike of proponents of other crypto-coins, tokens and platforms which they (the haters/detractors) feel are better than Bitconnect and its platform. What many have failed to take into consideration is that Bitconnect does have a viable working Business model that IS working. I will not go into the entire Bitconnect mechanism, but suffice it to say that they may have just figured out how to introduce crypto-currency to the masses while also turning a profit for itself and its investors. No one can Believe that Bitconnect can payout an average of 1% a day, yet everyone is Happy that Bitcoin, on average, has risen more than 3% per day in the past year without freaking about this anomaly.
There is a lot of good information out there on Bitconnect, both against it and for it. I have done my homework, and I even blogged quite a bit about Bitconnect as far as its background and what it is and is not. I have tried to be as impartial as I could be in order to provide true and accurate information about Bitconnect based on facts and not assumptions or beliefs. There is some information, such as its trading bot, that I obviously will not be able to ascertain or verify, but there is other information that helps in understanding Bitconnect that I provide.
Taking all the information I have put together in past posts as well as the current situation, and I believe that Bitconnect is becoming the Black Swan that was not expected nor wanted. Bitconnect continues to make headway in the crypto-currency world, and as I stated in my last blog about it, could easily find itself in the number 6 spot for Overall Market capitalization. It was real close to making it to No. 6, but instead has since climbed up two notches from #9 to #7 in overall Market Capitalization.
Don't be surprised if Bitconnect soon finds itself in that No. 6 spot, or if it really turns on it could land in the number 5 spot, You Never Know!!
