Vitalik Buterin, co-founder of the Ethereum blockchain and its associated cryptocurrency has warned that the price of cryptocurrencies could drop to near zero and so investors should not throw in their live savings yet.
In a Tweet this weekend he said:
Cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near zero at any time. Dont put in more money than you can afford to lose. If you are trying to figure out where to store your life savings, traditional assets are still the safest bet.
This is not the first time Buterin has cautioned investors in cryptocurrency, earlier in December of 2017, he blasted cryptocurrency investors for becoming obsessed with flaunting their new found wealth instead of focusing on how they can use the new technology to change society for the better.
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