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The research center in Mexico warns isolated citizens against staying away from cryptocurrencies

May 5, 2020

On May 4, Alberto Aldape Barrios, director of the Center for Business Research and Development (CIDE), asked the residents of the city of Aguascalientes Be wary of cryptocurrency investment opportunities.

In conversation with the local newspaper El Heraldo, Barrios warned of “financial speculation” in the midst of the COVID 19 crisisTherefore, there is a high risk when investing in Bitcoins (BTC), futures, options and forex.

Bitcoin volatility after COVID-19 can be dangerous

The CIDE chief believed that the price of Bitcoin will go up if the pandemic is under control. Barrios said:

You can’t speculate with cryptocurrencies as you can lose all your money in one day. No institution supports this currency. “

The research center in Mexico warns isolated citizens against staying away from cryptocurrenciesThe research center in Mexico warns isolated citizens against staying away from cryptocurrencies

However, the CIDE director claims to be aware of the introduction of cryptocurrencies in other countries. Nevertheless He doesn’t believe that investing in bitcoins in Mexico is advisable because “it’s a market for professional speculators”.

He also urged isolated citizens to be careful with offers to invest in futures, options and currency markets, as the drop in the oil price was a clear example of how risky this type of investment was.

About the flow of information in social networks, Barrios said people should be careful if they promise to make a lot of money in a short amount of time.

The popularity of cryptocurrencies in Mexico continues to grow

The CIDE director’s esteem contrasts with the latest information on the introduction of cryptocurrencies in Mexico.

Cointelegraph Español reported on May 4 that the adoption of cryptocurrencies in Mexico has increased since 2018.

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