Beware if you are a speculator: What wealth managers are telling their clients on Bitcoin

Bumpy start to 2018

Mike Sheen
clock • 2 min read

Wealth managers are warning clients the risks are too great to invest in Bitcoin at the current time as demand grows for the cryptocurrency, but they remain interested in the potential of the underlying blockchain technology.

Bitcoin became the fastest growing asset in the world in 2017, with its price rising by around 1,500% over the course of the year to reach highs of nearly $20,000. But prices are notoriously volatile and the cryptocurrency has had a bumpy start to the new year and now trades at $14,129 at the time of writing. Bitcoin breakthrough: Digital money expected to expand its reach in 2018 Comparisons have already been drawn with past market bubbles, such as Tulip Mania in the 17th Century and the dotcom bubble that finally burst in 2000, forcing a response from regulators. The Financial...

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