Bitconnect (BCC) Is A Zombie Shitcoin, Since It Still Exists After Epic USD 2.7 Billion Collapse
After intense scientific research, the experts at GenesisBlockNews have discovered a new type of shitcoin: the zombie shitcoin. The definition of a zombie shitcoin is a shitcoin that already totally died, but somehow continues to have trading activity and a value. Bitconnect (BCC) is the first identified zombie shitcoin.
Bitconnect was a typical ponzi scheme where people thought they were getting profits by holding its native token, BCC, but really they were just being paid with the money from new investors. Once the cryptocurrency market began to decline in December 2017 and January 2018, and new investments dried up, Bitconnect imploded like the infamous Chernobyl nuclear reactor. The market cap of BCC declined from USD 2.77 billion to USD 20 million within a month.
It is important to note that USD 2.77 billion would place Bitconnect in #4 today, ahead of Stellar, Bitcoin Cash, EOS, Litecoin, Tether, etc. The fact that the native cryptocurrency of a ponzi scheme was able to gain such a high market cap is illustrative of how naive, and honestly outright stupid, the crypto space got. People were dumping truck loads of money into the pockets of the Bitconnect scammers, since they thought they could get quick profits, instead of doing research and investing in cryptocurrencies that have real potential. This same story has been repeated for thousands of ICO scams, but perhaps Bitconnect is the most obvious example.
Currently BCC has a price of USD 0.68 and a market cap of USD 7.4 million. Not only that, but CoinMarketCap indicates that BCC has daily volume of USD 10,000 on average, and there was a 100+% rally in August 2018. This firmly indicates that BCC is indeed a zombie shitcoin. People are still paying actual money for a cryptocurrency which totally died an entire year ago.
The only advice we have, after watching zombie movies, is to shoot BCC straight in the head. Bitconnect already died in the crypto equivalent of a nuclear meltdown, and now it walks the Earth as an undead cryptocurrency.