As of late, Bitcoin has had a lot of publicity. All publicity is good publicity, right? Well not quite. There have been some truly remarkable things that occurred for Bitcoin this last year, from the record highs to a full-blown mutiny within its ranks over Bitcoin Cash. Bitconnect is a new player in the cryptocurrency game, but is it worth an investment?
Let's look at Bitcoin and the problems it's currently facing. Is it still worth an investment, too? The problem with cryptocurrencies as a whole is that they only hold worth if everyone believes they hold worth. In fact, the same goes for normal currencies, except they are often backed by national economies and commodities. With the invent of new currencies comes new controversy. Everything gets a scam label from the start. Some government agencies and real-world financial key players are still adamant that Bitcoin is nothing more than a Ponzi scheme or pyramid scheme. The truth is, even die-hard crypto investors will be hard-pressed to demonstrate how it isn’t one, and so the perception persists that it is all a fool’s game. They say it will eventually come to an end with those at the top becoming rich and those at the bottom having wasted their life savings.
Bitconnect is the latest to have the scam label leveled at it. Because it offers attractive returns, it is not difficult to see why. Should you invest in Bitconnect? Probably not. Can you make money from it? Probably. And so, the new cryptocurrency cycle of investment starts.
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