20 July 2021
Bitcoin traded on the Coindesk website at 5:31 AM on July 20, down 2.23 percent, moving at $30,870.54.
On Monday (July 19) Bitcoin plunged near the $30,000 level after a major fund manager warned investors to avoid investing in bitcoin.
As of 9:40 p.m. KST, Bitcoin fell 2.8 percent to $30,750 in trading on the Coinbase platform.
Mr. David Tice, Major Fund Manager warn investors that is now considered “A Very Dangerous Time” to Invest in Bitcoin
“We bought Bitcoin when it was still at $10,000, but after it hit $60,000, we felt the price had risen too much. Bitcoin I think it is very dangerous to own Bitcoin today,” said Tize.
Mr Tize also warned investors to avoid investing in the stock market.
“Stocks are too expensive considering future earnings. And the market is still facing various problems. This makes this a very dangerous market. Meanwhile, bond yields are down sharply right now,” said Tyze.
However, Mr. Tize advised investors to invest in gold. including gold and silver mining companies Gold prices are expected to jump 10% to $2,000 by the end of this year from around $1,800 now.
Bitcoin is also under pressure from the Department of Justice and the US Revenue Department. including regulators from many countries It has investigated Binance, the world’s largest cryptocurrency trading platform. as it may be involved in money laundering and tax evasion.