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Bitcoin News - ‘BitConnect Carlos’ Meme Hero Turns His Back on Bitcoin

  • Alex Morris
    📰 News

    Carlos Matos makes it clear that he doesn’t looooooooooooooove Bitcoin

‘BitConnect Carlos’ Meme Hero Turns His Back on Bitcoin
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Contents

UPDATE: Mashable, the outlet that initially broke the news, reports that the anti-Bitcoin tweet belongs to a parody account.

Notorious former BitConnect spokesperson Carlos Matos, who himself became a walking meme, is back in the game. Now he claims that Bitcoin is a scam, urging everyone to jump the ship.    

👉MUST READ India Biggest Bitcoin Scam Ever?

The origin of BitConnect

In general, BitConnect is considered to be the textbook definition of a cryptocurrency Ponzi scheme.  Users were promised a gargantuan 120 percent return on their initial investment after just one year because of PoS minting. On top of that, they also came up with a referral program that reminded a financial pyramid — people on social media would encourage everyone to create an account on BitConnect with the help of their referral links.

Later, the infamous exchange went out of business after having received a cease and desist order from the Texas State Securities Board. Subsequently, the price of BitConnect (BCC) token, which had been among the top 20 entries on CoinMarketCap, tumbled in a snap. At the time of writing this article, the BitConnect token (BCC) is sitting at $0.67.

BitConnect (BCC)

A meme was born

Matos is partially responsible for the immense popularity of this Ponzi scheme (some investors lost fortunes because of it). He appeared in a BitConnect commercial that immediately became a hit and even appeared on HBO’s Last Week Tonight. In no time, Matos became the face of BitConnect — and the collapse that followed — with his famous catchphrase generating hundreds of memes, and even making its way to Telegram stickers.

Matos became the face of BitConnect

Back in June, Matos would again appear on the horizon, posting his live stream videos and trying to create buzz again, but unsurprisingly — nobody cared. His videos gained only a small amount of attention.

Friendship ended with BitConnect, now Bitcoin is the biggest scam   

Now that his 15 minutes have been over a long time ago, Matos, who claims he comes from the Dominican Republic, took to Twitter in order to express his indignation with Bitcoin. In his recent tweet, the BitConnect mouthpiece shared his expert opinion about the future of BTC, stating that it will never come back. Whether he just regrets his involvement in BitConnect or simply tries to warm investors, he clearly knows a lot about scams.

👉MUST READ Top 10 ICO Scams

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Bitcoin News - This Is Why Bitcoin Price Will Surge Higher This Year

  • Thomas Hughes
    📈 Price Predictions

    💸✅Cryptocurrency traders, investors, and HODLer’s will be happy to learn that Bitcoin will surge higher this year📈

This Is Why Bitcoin Price Will Surge Higher This Year
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Cryptocurrency traders, investors, and HODLer’s will be happy to learn that Bitcoin will surge higher this year. The world’s reserve cryptocurrency and the leading digital token has been undergoing a period of recuperation that will soon be complete.

👉MUST READ Bitcoin to Hit $5,000 by May 2019, Analysts Predict, Despite Trading Volumes Faked by Exchanges

Last year, uncertain regulation, the so-called Fork Wars, and lack of awareness all played a role in the sharp sell-off and bear-market that has lingered into the current year. Now, many of the issues weighing on the market are disappearing or about to disappear and that is setting up conditions for a massive bull market.

BTC Price Prediction chart by TradingView

BTC/USD chart by TradingView

Fundstrat’s Tom Lee, one of the most prominent and outspoken BTC bulls, says macroeconomic trends are going to underpin the rally he thinks will start before the end of the year. He cites last year’s surging dollar and global market uncertainty as headwinds now gone. In his view, the technical picture is promising but it is the fundamental story that will drive value long-term.

The most important factor for Bitcoins value for Lee is the fact that it, and blockchain, are becoming useful. Banks like JP Morgan, Mizuho Bank, and Santander are all using blockchain while non-financials like Facebook and sovereign nations like Venezuela are also flocking to the technology. This is causing a shift of awareness that will spill into the retail sector and that in turn will further increase BTCs utility and emergence as a stand-alone asset class.

👉MUST READ Could Bitcoin Come Crashing Down? — The Mystery of Satoshi’s Kill Switch

Ironically, Lee says global turmoil is helping Bitcoin’s adoption. Venezuela is only one example where uncertain economic times, skyrocketing inflation, and mismanaged government are pushing people to the blockchain. Bottom line, Bitcoin is going to move higher, a retest of the all-time high (in my opinion) is all but certain.

The Six-Month Bitcoin Forecast You Need to Know Now

Bitcoin has been wallowing near long-term lows for several months now. In recent weeks the coin has begun showing bullish activity that is the first signs of movement in what will become a massive bull market. The near-term outlook is not quite as rosy, the token may continue to move sideways inside its range until one of a few things happens.

BTC/USD chart by TradingView

BTC/USD chart by TradingView

The first possibility is the U.S. government will finally adopt cryptocurrency regulation and/or allow the listing of a BTC based ETF. The next thing that may happen is an advancement in blockchain technology that may include but is not limited to enhancing BTC’s transaction speed and the much-needed and long-awaited upgrade of the Ethereum network; either could spark a massive rally in the entire market.

The final scenario, and possibly more likely, is that the market will slowly return to BTC. Investor confidence was sorely shaken last year, it is taking time for it to heal. Eventually, the market will build to a boiling point and spark a rebound in prices.

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