As Bitcoin reached its new heights Britain’s financial watchdog warned the consumers about investing in this new cryptocurrency. Even the FCA, Financial Conduct Authority, issued a statement to tell the people that they are risking their money while investing in it.
The statement issued was about, “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money. If consumers invest in these types of product, they should be prepared to lose all their money.”
Bitcoin Market Crashed
First time in the history, the past week the market reached $41,000 per coin. Bitcoin has the rallies of 300% and has been continuously setting new records from the last week.
This unusual event made all the analyst warned the consumers about the correction was due and just after that price fell dramatically. The price of per coin is $35,600 which means it has fallen 12% over the last 24 hours.
The chief Analyst of Avatrade, Naem Aslam commented on the situation naming it as “healthy correction. He said, “Bitcoin prices are likely to find their support between $28K to $30K,”
Well, as all these happening are taking place FCA has confirmed that a new rule will be imposed in this cryptocurrency scheme.
What do you think about it?