Deutsche Bank: Watch out for the bitcoin

Deutsche Bank's traders warned their clients to avoid the bitcoin as an investment. Thus, the largest German bank was another major financial institution that indirectly declared war on the cryptocurrency.
Ulrich Stefan, chief investment strategist at the German bank, just would not recommend this to the daily investor, as he said  yesterday.
Stefan has argued that volatility or changes in bitcoin prices are too great, and the regulation of the instrument is too low. He added that German investors are not among the most active in cryptocurrencies so far, but the chimeras associated with the bitcoin are becoming more and more intense.
The bitcoin went beyond the psychological level of $8,000 for the first time during the weekend, and since then has traded permanently above that limit. Its latest trading levels are about $8,200. Increasingly, experts are expecting the cryptocurrency up to $10,000, or even more.
It should be borne in mind, however, that since the beginning of the year, the bitcoin has risen eight times. This has led to repeated warnings that the digital currency is a balloon, including renowned names in the financial world - like Jamie Dimon.
However, individual investors, as well as some hedge funds, are increasingly looking at the bitcoin.
The Swedish Central Bank, for example, is one of the organizations that look at the potential of block technology, its possible wider implementation.