Cryptocurrency bitconnect took a nosedive with prices falling 97% today. The fall came after BitConnect said it’s closing its lending and exchange platform after receiving cease and desist letters from Texas and North Carolina. The coin had a nearly $3 billion market cap, and traded as high as $322 on Tuesday, dropping to $6.09, according to CoinMarketCap.com data.
Bad week for miners out there with nearly all major cryptocurrencies down between 20-40% in the last week. Hopefully that means good news for gamers who need a new video card, but the chances of that happening soon are slim.
BitConnect also said “continuous bad press has made community members uneasy and created a lack of confidence.” In addition, several denial of service attacks on BitConnect ‘s platform “have created more panic inside the community,” the company said.
Bad week for miners out there with nearly all major cryptocurrencies down between 20-40% in the last week. Hopefully that means good news for gamers who need a new video card, but the chances of that happening soon are slim.
BitConnect also said “continuous bad press has made community members uneasy and created a lack of confidence.” In addition, several denial of service attacks on BitConnect ‘s platform “have created more panic inside the community,” the company said.