Following China, the authorities of many states will begin to tighten control over the cryptocurrency market.
This is why investors need to be extremely careful if they decide to buy Bitcoin or other digital currencies. The Swiss investment bank UBS warned its clients about this.
The financial giant believes that the drop in cryptocurrency prices that we experienced in May and June was the result, among other things, of increased repression against industry participants in the Middle Kingdom.
The UBS memo says:
Regulators have demonstrated that they can and will fight cryptocurrencies. We urge investors to be careful and build their portfolio from less risky assets.
Not only banks, but also many experts often appeal to people with an appeal not to invest in bitcoin and similar instruments.
Fyodor Sidorov, the founder of the School of Practical Investment, stressed that Russians are susceptible to all sorts of HYIPs.
That is why we are seeing a surge in the interest of our compatriots in digital currencies. But people should remember that cryptocurrencies are volatile assets that can both skyrocket and crash in value.
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