Analyst: Bitcoin Is a Risky Investment that Can Burn Investors

December 27, 2017

Analyst: Bitcoin Is a Risky Investment that Can Burn Investors

"Being on the cryptocurrency market for a long time can be dangerous," says an analyst Michael Dudas. According to him, this can lead to "burns".

Dudas, a partner of Vertical Research, called Bitcoin and other cryptocurrencies a risky investment, referrong to the amount of "fast" money flowing through this market, and the lack of proper government regulation.

"Now this is a very speculative investment. The volume of volatility on this market over the past few days has often been in the headlines of the media around the world," Dudas said.

The analyst shared his opinion on the background of Bitcoin's attempts to regain its positions lost as a result of a strong fall last week, due to which the cryptocurrency lost more than 40%.

"There is still a lot of misunderstanding about the cryptocurrency, and you need to get a lot of knowledge about the supply of a lot of different cryptocurrencies, as well as what will become of them in the long term," he stated.

Dudas does not deny that placing Bitcoin futures on large stock exchanges of financial derivatives, CME and CBOE, suggests that the cryptocurrency is not going to disappear and is here to stay.

"Bitcoin's placement on these platforms, of course, makes it more legitimate, but, again, now the cryptocurrency market is still in its early stages," the analyst said, noting that it was necessary to open short positions in the cryptocurrency markets.

According to him, countries need to do a lot of work on the cryptocurrency regulation, as this will significantly reduce the amount of risks and reduce the number of "burned" investors.


Никто ещё не оставил комментариев. Желаете быть первым?