Speculators beware - what wealth managers tell clients on bitcoin

Bumpy start to 2018

clock • 3 min read

Wealth managers are warning their clients the risks are currently too great to invest in bitcoin - though 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. Guy Stephens: When investing and speculating intertwine 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 Conduct Authorit...

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