Bitcoin Investors ‘Should Be Prepared to Lose All Their Money”

SourceNewsweek
SectorFinancial Markets
CountryMiddle east

Individuals investing in crypto-currencies such as Bitcoin should be prepared to lose all their money, a United Kingdom regulatory agency warned Monday.The Financial Conduct Authority (FCA) issued the warning after a sharp run-up in price in the last few months and a sharp decline over the weekend.If consumers invest in these types of products, they should be prepared to lose all their money.- U.K. Financial Conduct Authority"Investing in crypto-assets, or investments and lending linked to them, generally involves taking very high risks with investors' money," the FCA, a governmental watchdog, warned in a statement issued Monday."If consumers invest in these types of products," the FCA said, "they should be prepared to lose all their money."A visual representation of the cryptocurrency Bitcoin on November 20, 2020 in London, England. Jordan Mansfield/Getty But a London analyst said Bitcoin's fundamentals remain strong and institutional investors continue to hold the crypto currency."Corrections are broadly seen as a healthy part of the bull market, allowing traders to regroup and catch a breath before embarking on new price discovery," Jason Deane, Bitcoin analyst at Quantum Economics in London, said in a statement provided to Newsweeek, "a bit like a mountain climber taking a break before tackling...read more...