Bitcoin price could drop to zero - UBS Wealth Management Anal | Smart Bitcoin

Bitcoin price could drop to zero - UBS Wealth Management

Analysts at one of the world's largest asset management firm have warned budding investors inspired by Bitcoin's bull rally: you could lose all your money. Bloomberg reports.

According to the Swiss company UBS Global Wealth Management, large cryptocurrencies could be destroyed by regulatory measures and rival digital assets issued by central banks.

“In our view, there is little that can stop the price of cryptocurrency from falling to zero if a better version is launched or in the event of depressive regulatory measures,” analysts, including Chief Investment Officer Michael Bolliger, said in a report. "Netscape and Myspace are examples of network applications that were popular but disappeared over time."

The investment firm's report drew warm support from Bloomberg readers on Twitter. Preston Pysh, co-founder of The Investor's Podcast Network, wrote: “I heard that the price could turn negative like the price of oil. Cryptocurrency can be so unclaimed that no one wants to store it in their hardware wallets ... people will pay to put it in your hardware wallet. It can be terrible. This is so scary".