Head of a top European regulator has warned cryptocurrency investors that they could lose a lot if they continue investing in the digital currencies. Investors in cryptocurrency are facing a scary nightmare as the overall market capitalization has dropped to $112 billion from $570 billion. This huge drop has happened within one business day, (24 hours).
94 out of 100 digital currencies have experienced double digit drops and that is alarming.
You don’t have the regular protection that regulated investments offer, and can lose all of your investments. As a European securities market authority, we have warned, in November, about the so-called ICOs because while ICOs in principle can give you services in return for the coin that you buy, or a share in the revenue, this happens in a very unregulated space. Steven Maijoor, the chair of the European Securities and Markets Authority.
At the time of writing this article, Bitcoin is trading at 12499.00 US Dollar
(price fell from $20,000 in December 2017). South Korea has now predicted about regulating the cryptocurrency discarding an earlier possibility of an outright ban.
According to Ben Hung of Standard Chartered Bank in an interview with CNBC he said
Investments in bitcoin and other cryptocurrencies carry a substantial amount of risk and people should only be prepared to invest if they do not mind losing their money.
Be careful, dont lose your hard earned money!