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Bitcoin prices continue to move wildly. Having lost more than 35% of its value last week, the cryptocurrency swung from a 7% drop to a 5% gain in less than an hour on 15 September.
A crackdown by Chinese authorities on cryptocurrency exchanges was blamed for the earlier slump. BTC China, one of the country’s biggest exchanges, even said it would stop trading by the end of September.
Adding to the negative sentiment was a comment by JPMorgan chief executive Jamie Dimon who called bitcoin ‘a fraud’.
We are not fans of bitcoin at Shares and believe investors with spare money would be far better parking that cash in equities.
This article is provided by Shares Magazine. Shares publishes information and ideas which are of interest to investors. It does not provide advice in relation to investments or any other financial matters and does not guarantee the accuracy or completeness of the information in this article.
Investors acting on the information in this article do so at their own risk and AJ Bell Media Limited and its staff do not accept liability for losses suffered by investors as a result of their investment decisions. Shares is published by AJ Bell Media Limited part of AJ Bell.