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Bitcoins / Breaking News

Daily Déjà vu Warning From Andrew Bailey

Another British leading financial regulator has sent a serious warning to all Bitcoin buyers (Which seems to scare no one)

The chief executive of the Financial Conduct Authority (FCA) Andrew Bailey, told BBC “Newsnight” on Thursday, 14 December 2017 “If you want to invest in Bitcoin, be prepared to lose all your money.”

He said, “a lack of backing from governments and central banks for the world’s most popular digital currency was evidence that putting money into Bitcoin was not a secure investment. He also said buying Bitcoin was akin to gambling because it had the same level of risk.”

This is another in the long line of critics and enthusiasts who are seriously against the Bitcoin meteoric price rise, leaving current Bitcoin investors scrambling to understand the driving factors for the cryptocurrencies runway rally.

“If you look at what has happened this year, I would caution people … We know relatively little about what informs the price of Bitcoin,” Bailey told the BBC.

All these financial experts are completely entitled to their opinion, but it’s getting a bit boring now. The bubble, the don’t invest, the stay away, people don’t seem to care. These statements don’t scare these investors, plus most Bitcoin investors are sensible enough to realise what they’re getting themselves involved with.

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Rheace is our social media expert for Crypto Daily, and brings you all of the information you need via our social media accounts. He is a huge crypto enthusiast, who delves deep unto the crypto world. He is currently writing pieces for Crypto Daily, using his knowledge and interest to bring you great pieces of news that is of interest to our readers. He is hugely experienced when it comes to social media, and has worked in the field for many years.