Bitcoin and cryptocurrencies have been making it to the news now and then, and in the last week, they were again in the limelight because of Facebook’s plan of launching their platform of digital currency. This launch will put the future of cryptocurrencies in the world at risk.
Last week in a tweet, Donald Trump decided to thrash the cryptocurrencies and recently U.K.’s financial services have made statements that can be considered as a red flag for the investors. Financial services made the statement that these cryptocurrencies have no intrinsic value, and this can be an indirect way of telling people that a crypto ban is around the corner.
Christopher Woolard, the executive director of strategy and competition at U.K. Financial Conduct Authority(FCA), said that this is a small, complex market that covers a broad range of activities. He further added that people should be careful when they invest in crypto assets and should have proper understanding and strength to bear the risks as these assets have no intrinsic value.
On the other hand, Jon Ostler from Finder.com said that even if the future of Bitcoin is not sure in society, but still it is one of the coins that will stay for a longer time. This lack of enthusiasm for the usage of bitcoin is seen in many other countries like India has decided to ban the cryptocurrency services in the country, but a legal battle is going on to lift the ban.
