After shutting down seemingly overnight and disappearing with billions of dollars in investments, crypto in general took a hard hit. Both Bitcoin and Ethereum saw massive drops in their own value due to the shockwave made by Bitconnect.
General public opinion certainly didn’t help either. After a string of cease and desist letters and a constant cycle of bad press, Bitconnect announced in January 2018 that it would be shutting down its lending and exchange platform.
Following its unceremonious end, 90% of Bitconnect’s currency value was lost, customers were unable to withdraw their own currency, and investors said goodbye to millions of dollars. Check out this infographic for more on the rise and fall of Bitconnect and how its actions will affect the future of crypto investing.
Infographic by: www.bestbitcoinexchange.io