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.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
