Bitcoin price WARNING: Expert warns of ‘WILD’ cryptocurrency – ‘no one can control it’

Thursday, December 28, 2017
By Paul Martin

BITCOIN is a “wild mania no one can control” and dangerous for investors, according to Massachusetts Secretary of the Commonwealth William Galvin.

Thu, Dec 28, 2017

William Galvin, Massachusetts’ Secretary of the Commonwealth, told CNBC bitcoin is dangerous for investors as it is subject to manipulation.

Mr Galvin issued a warning for the State of Massachusetts earlier in December against the cryptocurrency like the one his office issued against Apple in the 1980s.

He said: “With Apple, there was at least a theory of a product, there is no product here. This is entirely speculation. That’s already been proven by the wild duration of the value.”

He added: “It’s also subject to manipulation because no one can explain it. No one can control it. No one can explain exactly where and when, from when these profits are going or are coming.

“This is clearly a bubble, there is no question about that. It is a bubble.

“It has been fed by the idea that people believe they’re going to make money by simply investing in this.”

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