Hapa investor anahitaji roho ya chuma

Bitconnect was a website that was heavily advertised throughout social media platforms such as: Facebook, Youtube, and Twitter. This website allowed people to put their money in a "Trading Robot", which supposedly was able to produce returns better than the average daytrader.

This trading robot at the beginning was making returns of "1% daily", which others advertised to their friends. Friends put their money into Bitconnect, under the impression that the bot would make them money, would convince others to join the bot.

Then when Bitconnect had around ~$3B USD worth of capital, their website suddenly shut down. They announced that they were shutting down their lending platform and any balances on the website would be refunded in a currency: "Bitconnect Tokens". Bitconnect Tokens were tied to the value of how the trading bot was doing. But since the trading bot had just been shut down/never existed, Bitconnect tokens effectively had 0 value. People started to realize this, they sold off their share, resulting in the value of Bitconnect Tokens dropping 90% in less than an hour. Many people lost everything they put on the website, causing mass selling of assets.

Worth noting that the "trading robot" never existed, and it was essentially a ponzi scheme.

behold a potential reversal