Monday, October 25

Bank of England President Views Cryptocurrencies as Dangerous

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bank of england

Bank of England chief Andrew Bailey used the term “dangerous” for cryptocurrencies earlier in the day.

“Frankly I am skeptical about crypto assets. Because they are dangerous and there is a great enthusiasm in the sector. “

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Bailey has expressed his skepticism towards cryptocurrencies for years. Bailey stated earlier that people should only enter the industry if they can afford to lose all their money.

Following Bailey’s warning, the overall market value of cryptocurrencies fell 51%. In general, the cryptocurrency market has recovered somewhat today, but in less than a week, there was a major earthquake.

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