Published On: Sun, Nov 26th, 2017

Deutsche Bank warns investors from Bitcoin

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As Bitcoin continues to inch towards the $10,000 mark, there are still some parties that believe it’s not a good investment option. 
Harsh Stance Against Bitcoin

Bitcoin and cryptocurrencies are currently among the hottest topics in the finance and technology world. The main reason behind the recent hype is the astronomical rise of the cryptocurrency market cap. At the start of 2017, the total cryptocurrency market cap was barely worth $20 billion. The cryptocurrency market now worth almost $300 billion, an impressive market growth of over 1000%.
One of the most notable gainers was the most popular cryptocurrency Bitcoin, which managed to grow from $963 to today’s all-time high price of $9457. Even though Bitcoin’s value has risen by more than 880% this year, there are still some skeptics in the finance community that believe its a bubble.
Jamie Dimon, CEO of financial giant JPMorgan Chase, is one of Bitcoin’s most vocal and tenacious detractors, having previously called the digital currency a “fraud” and “tulip mania 2.0”. And now, according to a recent article by Reuters, a chief strategist at the Deutsche Bank, Ulrich Stephan, has joined Dimon’s Bitcoin haters club, advising investors …

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