Thursday, February 25, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Bitcoin price plunges as FCA warns crypto investors could lose all their money

3 weeks ago
in Blockchain
2 min read
Bitcoin price plunges as FCA warns crypto investors could lose all their money
Share on FacebookShare on Twitter


The regulator said investors looking to invest in the digital asset market should be prepared to take on “high-risk, speculative investments” which may also leave them outside of the UK’s various consumer protection schemes

Related articles

Catenae Innovation hope to play key role alongside UK Government in ‘democratising

Catenae Innovation hope to play key role alongside UK Government in ‘democratising

February 25, 2021
Argo Blockchain reports earnings and revenue surge in first half as Bitcoin mining

Argo Blockchain reports earnings and revenue surge in first half as Bitcoin mining

February 25, 2021

The price of Bitcoin has come off the boil at the start of the week, suffering a sharp drop in value after the UK’s financial regulator said investors wishing to park their cash in crypto assets “should be prepared to lose all their money” and that the assets or products linked to them were “high-risk, speculative investments”.

In an announcement on Monday, the Financial Conduct Authority (FCA) warned that investing in crypto assets meant consumers were “unlikely to have access” to the various protection bodies such as the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS), which protects customer’s monetary deposits if a financial services firm fails.

READ: Tales from the Crypto – feed Bitcoin more money, not less, says Goldman exec

The FCA also cautioned that “significant price volatility” and the complexity of crypto products also placed consumers at a high risk of loss, and that they may also find fees for such investments will be higher than regulated products.

The warning from the regulator follows Bitcoin’s sudden return to the spotlight last year as the value of the digital currency skyrocketed as investors sought to hedge their bets against the volatility of the equity markets during the pandemic.

“There is no denying that cryptocurrency is gaining more mainstream attention thanks to the stratospheric rise of Bitcoin, the first and best-known cryptocurrency, in recent history”, said Interactive Investor’s Myron Jobson, who added that cryptocurrency mining group () was the stockbroker’s most bought investment in the first week of 2021.

READ: Argo Blockchain receives 1,058 cryptocurrency miners ahead of schedule

However, Jobson warned that investors with fear of missing out (FOMO) on Bitcoin’s rise “won’t look before they leap and, encouraged by glossy marketing hooked on the meteoric rise of Bitcoin, invest in crypto assets which is a highly complex, high risk and relatively new area of investments”.

He added that more seasoned crypto investors may remember the 2017 bull run for Bitcoin, which saw the price soar towards the end of the year to then crash in early 2018.

“While it’s always tempting to follow the ‘this time it will be different’, the fact remains that the asset is notoriously volatile – and for many investors, the price swings have been simply too wild to stomach. But whatever your approach to risk, cryptocurrency should only be a tiny proportion of a portfolio”, Jobson concluded.

In something of an underscoring of the FCA’s warnings about Bitcoin’s volatility, its value was down nearly 16% over a 24 hour period at US$32,866 in late-afternoon trading on Monday.



Read more:Bitcoin price plunges as FCA warns crypto investors could lose all their money

Tags: Bitcoinbitcoin news todayCryptoFCAInvestorslosemoneyplungesPriceWarns

Related Posts

Catenae Innovation hope to play key role alongside UK Government in ‘democratising

Catenae Innovation hope to play key role alongside UK Government in ‘democratising

by Bitcoin Market
February 25, 2021
0

's () Guy Meyer speaks to Proactive London's Katie Pilbeam about being invited to participate in the Department of...

Argo Blockchain reports earnings and revenue surge in first half as Bitcoin mining

Argo Blockchain reports earnings and revenue surge in first half as Bitcoin mining

by Bitcoin Market
February 25, 2021
0

The crypto miner said it had mined 1,669 Bitcoin during the period, a 545% increase on the prior year...

Argo Blockchain begins trading on OTCQX market

Argo Blockchain begins trading on OTCQX market

by Bitcoin Market
February 24, 2021
0

The cryptocurrency miner said the OTCQX is the highest tier of the OTC market and represents an "important milestone"...

Argo Blockchain boasts surge in revenues after a 545% increase in Bitcoins mined

Argo Blockchain boasts surge in revenues after a 545% increase in Bitcoins mined

by Bitcoin Market
February 24, 2021
0

's () Peter Wall talks to Proactive London after reporting a surge in earnings and revenues in its first...

Pineapple Power spikes higher as it fields approaches

Pineapple Power spikes higher as it fields approaches

by Bitcoin Market
February 23, 2021
0

Pineapple Power Corporation PLC (LON:PNPL) jumped 7.7% to 8.25p after the cash shell revealed it has received a number...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
Catenae Innovation hope to play key role alongside UK Government in ‘democratising

Catenae Innovation hope to play key role alongside UK Government in ‘democratising

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Catenae Innovation hope to play key role alongside UK Government in ‘democratising

Catenae Innovation hope to play key role alongside UK Government in ‘democratising

February 25, 2021
Where Gold Prices Are Headed In 2021

Where Gold Prices Are Headed In 2021

February 25, 2021

IT News Online – Link Global Signs Binding LOI for Electrical Cost Reducing

February 25, 2021
Jim Cramer Tells GameStop to Buy Bitcoin Amid Latest Stock Surge

Jim Cramer Tells GameStop to Buy Bitcoin Amid Latest Stock Surge

February 25, 2021
Speculative crypto art market takes off

Speculative crypto art market takes off

February 25, 2021
What Bitcoin price levels will invalidate the short-term bearish scenario?

What Bitcoin price levels will invalidate the short-term bearish scenario?

February 25, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$51,052.002.87%
  • bitcoin-cashBitcoin Cash(BCH)$547.043.35%
  • binance-coinBinance Coin(BNB)$255.712.05%
  • bitcoin-goldBitcoin Gold(BTG)$28.702.15%
  • bitcoin-privateBitcoin Private(BTCP)$0.822-0.91%
  • blocktixBlocktix(TIX)$0.0200.00%