Brian Armstrong, CEO of Coinbase warn newcomers in cryptocurrency, who buying it amid bitcoin’s latest climb as Bitcoin is at its high levels.
The Coinbase CEO come forward in a blog post on Wednesday to caution investors who making new or fresh investment in Cryptocurrency. He and his company focus on a “long-term view of the market” while emphasizing that cryptocurrency investing was “not without risk.”
Armstrong quotes, “While we’re always excited to see increased interest in crypto, it’s also important to point out that this is not only a time of high volumes but also price volatility. The market can move in either direction much faster than equity markets.”
Armstrong also warns speculators who might be focusing on short-term speculation and encouraged his customers to “seek out resources” and consult financial experts in order to obtain a better understanding.
The CEO also advised to Coinbase’s multiple outages this year as the exchange has struggled to keep up with a number of traders looking to capitalize on bitcoin’s high volatility.
Armstrong also quotes, “Although we always do our best to address our shortcomings and transparently communicate any information that our customers need to confidently manage their accounts and make informed trading decisions,”