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Don’t be seduced by crypto – a crash is plausible according to Bank of England

If you’ve been tempted to invest in crypto rather than gold, you’d be wise to stick with the proven safe haven with the Bank of England this week warning that a crypto crash is plausible.

Addressing the SIBOS conference on Wednesday, Deputy Governor Jon Cunliffe said, “Such a collapse is certainly a plausible scenario, given the lack of intrinsic value and consequent price volatility, the probability of contagion between cryptoassets, the cyber and operational vulnerabilities, and of course, the power of herd behaviour.”

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