{"id":9814,"date":"2021-07-20T02:54:05","date_gmt":"2021-07-20T02:54:05","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/investment-advisor-says-bitcoin-is-very-dangerous-to-hold-today-citing-warnings-by-regulators\/"},"modified":"2021-07-20T02:54:05","modified_gmt":"2021-07-20T02:54:05","slug":"investment-advisor-says-bitcoin-is-very-dangerous-to-hold-today-citing-warnings-by-regulators","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/investment-advisor-says-bitcoin-is-very-dangerous-to-hold-today-citing-warnings-by-regulators\/","title":{"rendered":"Investment Advisor Says Bitcoin Is \u2018Very Dangerous to Hold Today\u2019 Citing Warnings by Regulators"},"content":{"rendered":"

Investment advisor and former Prudent Bear Fund manager David Tice has warned about investing in bitcoin. Citing \u201cnegative statements\u201d by central bankers and regulators, such as the Bank of England, he said that it is \u201cvery dangerous to hold\u201d bitcoin today.<\/strong><\/p>\n

Investment Advisor David Tice Warns It\u2019s Dangerous to Invest in Bitcoin<\/h2>\n

David Tice, who sold his bear fund as the 2008 financial crisis was unfolding, talked about the stock market and bitcoin in an interview with CNBC Friday. A former Prudent Bear Fund manager, Tice is known for making bearish bets during bull markets. He now advises the Advisorshares Ranger Equity Bear exchange-traded fund (ETF), which has $70 million in assets under management.<\/p>\n

Tice was a bitcoin bull early this year but he became bearish when the price of the cryptocurrency hit all-time highs in March. He now cautioned investors in the crypto space that BTC<\/a> is very dangerous to hold right now.<\/p>\n

\u201cWe had a bitcoin position when bitcoin was at $10,000. However, when it got to $60,000, we felt like that was long in the tooth,\u201d he described, elaborating:<\/p>\n

Lately, there\u2019s been a lot more uproar from central bankers, Bank for International Settlements, [and] the Bank of England have made profound negative statements. I think it\u2019s very dangerous to hold today.<\/p>\n

Bitcoin is not the only market Tick thinks it is dangerous to be in. He also believes it is very dangerous to be in the stock market. \u201cThe market is very overpriced in terms of future earnings. We are adding debt like we\u2019ve never seen. We have the Treasury market acting very strange with rates falling dramatically,\u201d he detailed.<\/p>\n

<\/p>\n

The Bank of England has been quite vocal in expressing its view on cryptocurrency. The governor of the British central bank, Andrew Bailey, said in May that cryptocurrencies were dangerous<\/a> and had no intrinsic value. He said investors should put money in cryptocurrencies if they expect to lose it all. The president of the European Central Bank (ECB), Christine Lagarde, agreed<\/a> with him.<\/p>\n

Bailey also predicted that cryptocurrencies will not last<\/a>. In addition, he said in June that \u201cThere will inevitably be elements of tough love<\/a>\u201d in crypto regulation.<\/p>\n

Last week, Bank of England Deputy Governor Jon Cunliffe said he believes that cryptocurrencies were not big enough<\/a> to pose financial stability risk.<\/p>\n

What do you think about David Tice\u2019s comments? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFeatured, bitcoin dangerous, bitcoin investments, crypto dangerous, cryptocurrency dangerous, david tice, david tice bitcoin, david tice crypto, david tice cryptocurrency<\/p>\n","protected":false},"excerpt":{"rendered":"

Investment advisor and former Prudent Bear Fund manager David Tice has warned about investing in bitcoin. Citing \u201cnegative statements\u201d by central bankers and regulators, such as the Bank of England, he said that it is \u201cvery dangerous to hold\u201d bitcoin today. Investment Advisor David Tice Warns It\u2019s Dangerous to Invest in Bitcoin David Tice, who…<\/p>\n","protected":false},"author":0,"featured_media":9815,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-9814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9814"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=9814"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9814\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/9815"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=9814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=9814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=9814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}