Bank of England chief Andrew Bailey used the term “dangerous” for cryptocurrencies earlier in the day.
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.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.