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BCH $512.95 (-6.9%)
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UBS Global Wealth Alerts Traders: “Crypto Prices Can Go to Zero”

UBS Global Wealth Alerts Traders “Crypto Prices Can Go to Zero”
  • According to UBS Global Wealth, “crypto prices can go to zero,” and traders can lose their money.
  • Bitcoin is falling back to $35,000.
  • Investors are putting aggressive price points on Bitcoin.

According to UBS Global Wealth, crypto prices can go to zero, and traders can lose their money.

UBS Global Wealth said that nothing is stopping a wipeout between regulatory threats and central bank-issued competitors. As Wall Street jumps on the Bitcoin rally, the Swiss firm says prices may increase in the near term. But, the industry faces existential risk over the long haul.

While the Bitcoin price is falling back to $35,000, UBS said that the asset class is stoking debate among the world’s leading money managers. UBS also added that famed investors join the industry to know how to use crypto for gambling and handling.

Furthermore, the team said that crypto prices could rise anew, powered by market momentum and limited supply. But over the long term, UBS also indicates the UK’s decision to ban sales of certain crypto-derivative products to retail investors.

Also, UBS Wealth said they are skeptical of virtual tokens’ real-world utility. Still, they said that they stop short of calling crypto prices a bubble. This is due to the difficulty of defining an asset’s fair value without cash flows.

To continue, UBS said that other investors had put aggressive price points on Bitcoin. The UBS Wealth added that “these investors sell their gold holdings to increase their portfolios with crypto.”

In line with this, Scott Minerd of Guggenheim Investments also says that Bitcoin could be worth around $400,000. While JPMorgan Chase & Co strategists discuss a case for $146,000 in the long run.

To finalize, UBS Wealth advises investors in cryptocurrencies to limit the size of their investments to an amount they can afford to lose.

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