Cryptocurrencies, digital currencies that no traditional Wall Street professional desires to touch, are giving investors another bloodbath. It’s not the first time and likely won’t be the last. Many see them as more scam and hype than a true currency, and the volatility is enough to send people reaching for the air sick bag. Google has banned cryptocurrency-related advertising, and regulators are closing in on exchanges who promote and sponsor these currencies. Many on Wall Street believe it’s a fad that won’t end well, and that prediction is already proving to be more right than wrong.
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