UBS Wealth cautioned newbie crypto investors

Newbie Bitcoiners being warned by UBS Strategists
  • UBS Global Wealth Management is concerned regarding the crypto rallies and investments
  • UBS warned the investors not to risk their entire fund in cryptocurrencies
  • Some strategists claim that the recent rally is the effect of millionaires gambling

Strategists at UBS Global Wealth Management, one of the world’s largest wealth managers, are issuing cautions to newbie crypto investors. Following the recent months soaring crypto market, several new crypto investors are jumping into the bullish rally. And following such investors plunging in the rally, strategists at UBS warn that they can still lose all their funds. 

According to UBS, everyone including several regulators and competitors like central bank digital currencies (CBDC), are trying to eventually wipe out cryptocurrencies.

UBS strategists are concerned regarding cryptos existence

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Michael Bolliger, the chief investment officer for global emerging markets at USB, along with other strategists’ concerns regarding the price fall of cryptos. According to Bolliger, there is very little chance to stop cryptos’ prices from getting to zero. Moreover, when a better-designed version is launched or in times of regulatory pressure. Observing Wall Street’s entry in the crypto rally, UBS stated that the price might rise for the short term, but the market will face observational risk over a longer time frame.

The strategists have also noted some network application examples like Netscape and Myspace, which enjoyed a broader popularity. Although after enjoying such high popularity, such applications eventually disappeared.

The crypto price rally seems gambling effects

After the leading crypto token surged to create a new ATH near a price level of $42k in recent trades, it attracted several debates among money managers. According to some critics in the cryptosphere, the entry of millionaire investors like Paul Tudor and Stanley Druckenmiller seems like gambling, scandal, and manipulation of prices. On the other hand, observing the market risks and regulatory involvement, the United Kingdom decided to ban some crypto-derivative products among small traders.

Inventors should limit the size of the investment

Many firms other than UBS Global Wealth Management are skeptical regarding the real-world utility of such tokens. Several investors in the space are putting ambitious price targets for Bitcoin. According to such investors, the prices will continue their uptrend because they have sold their traditional holdings to get cryptos in their portfolio. According to some expert strategists, the price will reach the level of $1,46,000, and some claim that the price will reach $4,00,000. However, according to UBS, the investors should only put the amount that can be risked.

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Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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