Ethereum Creator Warns Of Cryptocurrencies’ Potential Collapse to ‘Near-Zero’

© Sputnik / Evgeny Biyatov / Go to the photo bankSouvenir coins with the cryptocurrency logos of Bitcoin, Litecoin and Ethereum
Souvenir coins with the cryptocurrency logos of Bitcoin, Litecoin and Ethereum - Sputnik International
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The reminder comes amid high volatility of Bitcoin, which rose 1000% in 2017, but started 2018 with a sharp decline, losing half of its value.

The creator of the Ethereum Vitalik Buterin has posted a reminder to all cryptocurrency investors on his Twitter, February 17, warning them about the high volatility of the new, trendy assets and their possible drop to "near-zero," which can happen any time. He urged them to invest only as much as they can afford to lose and recommended all, who seek safe instruments to store life-savings, to invest in more traditional assets, without specifying which ones.

READ MORE: 'Disgusting, Noxious Poison': Buffet's Right-Hand Man Pours Scorn on Bitcoin

The Ethereum blockchain network was launched in 2015 and although its main token is called ether, many other cryptocurrencies are based on Ethereum, such as the fan-made TFBCoin or Petro — a Venezuelan government project.

READ MORE: Don't Rush to Lay Bitcoin to Rest: Analyst Explains the Benefit of Its Fall

Serious concerns about cryptocurrencies being another financial bubble started to arise after the sudden rise in value of Bitcoin during 2017, followed by a significant drop at the beginning of 2018, which was predicted by some experts, when it lost half its value. It later restored some of its value, breaking back through the $10,000 psychological barrier.

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