Bitcoin WARNING: ‘Never invest money in things you DON’T understand’, says expert…“If you are stupid enough to buy it, you will pay the price for it one day.”
BITCOIN EXPERT Nicolas Cary said he would not recommend trading with bitcoin if you do not understand what the cryptocurrency is and you do not want to lose your money.
By ALESSANDRA SCOTTO DI SANTOLO
Express.co.uk
Thu, Dec 21, 2017
CEO of Blockchain Nicolas Cary told Channel 4 News that despite Wall Street vouching for bitcoin, the cryptocurrency is not worth investing in if you don’t understand it.
He said: “The global market cap is over $600billion and we are kind of predicting that it will hit over a trillion at some point in 2018.
“There’s lots of new money pouring in, some of that money is very sophisticated, you’ve got money coming in from Wall Street, hedge funds managers and new crypto hedge funds actually forming.”
He added: “You also have a lot of new retail investors and speculators as well.
“So my general advice to people is: never invest in things you don’t understand and only put enough money into things that you’re not willing to lose.”
The cryptocurrency has sparked a series of warnings from central bankers, regulators and bank bosses.
JP Morgan Chase Chief Executive Jamie Dimon said: “I don’t personally understand the value of something that has no actual value.
“I couldn’t care less what bitcoin trades for, how it trades, why it trades, who trades it.
“If you are stupid enough to buy it, you will pay the price for it one day.”
The Rest…HERE
