UK’s Financial Conduct Authority (FCA) on Monday said investments in cryptocurrencies such as bitcoins come with “very high risks.” If consumers invest in these types of products, FCA said, they should be prepared to lose all their money.
According to Nischal Shetty, CEO, WazirX, Bitcoin’s price went up from $18,000 to over $40,000 within one month. That’s over 100 percent price increase in such a short span of time.
“Bitcoin’s price dropping from $40,000 is a healthy correction and it will help to build a more solid foundation for price appreciation,” he believes.
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