Once again, a state institution comments on the current development of the crypto market. The Central Bank of Ireland’s Director Derville Rowland warned investors of the risks of losing all of their investments in crypto assets. According to Rowland, the current Bitcoin crash is ‘of great concern’ and shows that the volatile market needs regulation. The latest warning is likely to be triggered by the biggest sell-off the crypto market has ever seen. The overall market then lost around one trillion US dollars.
Hardliner Rowland Raises Concerns About the Bitcoin Crash
Rowland’s opinion on the crypto market will influence the regulation at least in Europe. ESMA raised similar concerns about the crypto issue in the past. According to the authority, cryptocurrency investors are taking enormous risks because the unregulated market is extremely volatile.
The calls for regulations from authorities such as ESMA are gaining momentum. Investor interest in alternative investment options such as cryptocurrencies is growing steadily. More and more people want to buy Bitcoin and trade cryptocurrencies. Under the leadership of Rowland, ESMA has picked the right woman to push crypto regulations further.
Bitcoin Crash Is Causing a Downward Trend in the Crypto Market
Crypto investors may suffer great losses due to the current price developments. Especially in view of the fact that a lot of inexperienced traders invested a lot of money in crypto at the beginning of the year. Of course, the current Bitcoin rate should recover again. However, it shows how volatile the market is and that you have to deal seriously with the topic of cryptocurrencies before investing.
As of this writing, BTC price is around $36,200, data from CoinMarketCap shows.
The price hasn’t reached new record values one year after the last halving event yet. Many optimistic forecasts are specifically intended for inexperienced investors to invest money without a doubt. One cannot speak of investing, only speculating.
Will the unregulated crypto market be regulated soon? Well, it remains to be seen whether the crypto market will be regulated in the future. Still, there are tax authorities that are trying their best to protect and inform investors. On the one hand, they stand against fraud and on the other, against the loss of money due to wrong investment decisions. The latter, of course, is mainly the responsibility of an investor!