Bitcoin losing half its value single handily brought down BitConnect, which was one of the biggest scams in cryptocurrency history.

Think about it, if Bitcoin kept rising, BitConnect would have been able to continue their Ponzi scheme without question, because they would have kept on getting richer, as they gave their worthless BitConnect tokens to their users.

With Bitcoin losing half its value over a couple of months, BitConnect was forced to shut its doors, and come clean about their scam earlier than later.

Imagine if Bitcoin kept rising for another year without a pause, BitConnect would have exit scammed with so much more money than they did.

Plus, another awesome side effect to the Bitcoin value halvening, is that all the other Ponzi scheme lending programs such as Davor of DavorCoin, ThornCoin, USI-Tech and so many more, are now either failing in such a major way that they are about to exit scam, or have even stop paying their customers such as USI-Tech has... because there is no fucking money left to pay them!

In fact, DavorCoin just announced a one million dollar giveaway, to anyone who puts money into their system on Monday, which is a so obvious "we are about to exit scam, but we want as much money as we can get before we do" tactic, and their stupid fucking sheeple users don't even see through this deception.

Then we have the cloud mining companies, which I have and always will believe are all scams too. The word on the street is, if Bitcoin hits $3,500 they will all go out of business... and good riddance too.

Disclaimer: To be fair, I am not a fan of "proof of work" coins and tokens, I think they are a waste of power that could be going to better use, and are terrible on the overall environment as well.

I think of this bear market for Bitcoin as a huge toilet, and floating in this huge toilet are all the bad actors in the cryptocurrency space, and now that Bitcoin has gone down so much, it has been already, and will continue to flush them all out in the end... hence the reason why I think this major correction is a good thing.