Bitcoin ‘Shouldn’t Be Relied Upon’ — This Retail Investing Giant Warned 1.5M Clients Before $19B Crypto Wipeout
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The cryptocurrency industry saw more than $19 billion in liquidations within 24 hours following President Donald Trump’s new tariff announcement against China on Oct. 10. Bitcoin, which had touched new highs of $126,000 on Oct. 6, dropped to as low as $104,600 following Trump’s announcement.
On Oct. 8, Hargreaves Lansdown, the biggest retail investing platform in the UK, issued a strong warning to its clients against trading cryptocurrencies, calling them risky and highly volatile. The warning came after the UK’s Financial Conduct Authority lifted its ban on crypto exchange-traded notes for retail investors.
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