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Coinbase CEO tells users to watch out during Bitcoin rally

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Bitcoin has been in the news lately as prices breached the $23,000-mark, a major psychological level. Coinbase CEO Brian Armstrong shared a message today about “crypto market rallies.” 

While the CEO lauded the current rally and how news organizations covered the Bitcoin price surge, he believed that crypto was “a game-changing innovation.” Armstrong urged customers to understand that investing in crypto was “not without risk.” 

He added that crypto could be more volatile than traditional financial instruments and informed users that crypto markets could move much faster than equity markets. 

He cautioned investors, who focused on short-term speculation, to better understand risks associated with investing in cryptocurrencies. He encouraged customers to seek out resources and even consult financial advisors and said:

For those who believe in the potential of crypto, we also all have to believe that we’re still in the very early stages and that there’s a lot more to come.

Just yesterday, when Bitcoin breached $20,000, several Coinbase customers took to Twitter to report technical issues while using the platform. Soon enough, the Coinbase team published an update that it was “currently investigating the issue.”

Although Armstrong did not directly address yesterday’s issues, he noted that while the team “occasionally fell short,” they addressed the firm’s shortcomings “transparently.” Armstrong also wrote that the Coinbase team worked hard to help customers make informed trading decisions especially during “extreme” times like the current market rally.

Meanwhile, Bitcoin’s price has been up by 13.4% in the last 24 hours and was worth $23,479.34, with a 24-hour trading volume of $56,889,259,280, at the time of writing.

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Alisha is a full-time journalist at AMBCrypto. Her interests lie in blockchain technology, crypto-crimes, and market developments in Africa and the United States

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Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.