Expert Urges Caution Amid Bitcoin Boom

Expert Urges Caution Amid Bitcoin Boom

Finance and investment expert Andrew Baxter

The Wealth Playbook: Your Ultimate Guide To Financial Security by Andrew Baxter

The Wealth Playbook: Your Ultimate Guide To Financial Security by Andrew Baxter

“Investors remain exposed to fraud, scams, and market manipulation.”

BRISBANE, QUEENSLAND, AUSTRALIA, March 29, 2024 / — As the skyrocketing Bitcoin price creates a new wave of cryptocurrency excitement, an investment expert and author is urging novice investors to exercise caution.

Andrew Baxter, the CEO of Australian Investment Education and author of The Wealth Playbook: Your Ultimate Guide to Financial Security, warns that while Bitcoin may have proven a level of resilience, the cryptocurrency industry remains like the “wild west”.

“The cryptocurrency space, despite Bitcoin’s recent success, still operates with far less oversight compared to traditional, regulated markets,” said Baxter. 

“Investors remain exposed to fraud, scams, and market manipulation. The billions lost in high-profile incidents like the Mt. Gox hack, the Bitconnect Ponzi scheme, and the recent FTX bankruptcy serve as stark reminders of the risks.”

Baxter also points out that Bitcoin price rallies often lead people to start investing in smaller altcoins in the hope of achieving similar gains, and this is where the real danger lies.

“Fortunes have been made, but fortunes have also been lost in the blink of an eye, as we saw with the billions in market value erased from currencies like Terra Luna,” cautions Baxter. 

“Right now, putting money into cryptocurrencies, especially the smaller altcoins, is akin to going to the racetrack and handing your money to the bookie.

“Some people will get lucky and win big, but many more will lose their shirt. Even with Bitcoin’s growth, cryptocurrencies still represent the apex of speculation in today’s markets.”

For those keen to gain exposure to Bitcoin’s potential, Baxter recommends considering the newly launched Bitcoin Exchange Traded Funds (ETFs) offered by established providers. 

“Investing through regulated ETFs can mitigate some of the risks associated with holding cryptocurrencies directly,” he advises.

However, Baxter maintains that investors should prioritise building a well-diversified portfolio of safer investments like traditional exchange-traded funds, stocks, and real estate before allocating funds to speculative assets like cryptocurrencies.

The Wealth Playbook:

Available at Amazon, Booktopia and Barnes & Noble. Review copies available upon request.

Book information and links to buy: 

About Andrew:

Andrew Baxter is a self-made millionaire investor, educator and commentator who is recognised as one of Australia’s leading experts on trading education, wealth creation and money mindsets.

Andrew’s first book, The Wealth Playbook, was released in February and is now available at Review copies available on request and you can also access a book overview.

Andrew is the founder of Australia’s top financial and trading education platform, Australian Investment Education.

He has spoken alongside some of the world’s leading names, including Robert Kiyosaki, Tony Robbins, Sir Richard Branson and Tony Blair.

Andrew lives on his family farm in Byron Bay, Australia, with his wife and five children.

Andrew is available for interviews and articles by request. 

For all media enquiries, please email [email protected]

For phone enquiries, please call Jessica on +61 467 272 973.

Jessica Turner
Wealth Magnet c/o Apiro Marketing
+61 467 272 973
email us here
Visit us on social media:

Originally published at

author avatar
business banners

Latest posts

Read the FY 2024-25 Proposed Budget

Mayor Daniella Levine Cava unveiled the FY 2024-25 Proposed Budget on July 15 from the Stephen P. Clark Center. In the fourth year of...

Miami-Dade County Single-Family Home Sales Rise 6.5% Year-over-Year; Miami Condo Transactions Climb 4.5%

MIAMI — Miami-Dade County total home sales increased 5.4% year-over-year as single-family home transactions and condo sales rose 6.5% and 4.5%, respectively, in April...

General Contractors Send One Million Safety Text Messages a Month – Increasing Time on Tools

Safety and site managers communicate site updates, safety procedures, and emergency alerts – gaining "time on tools" worth $300k-$600k per year.WASHINGTON, June 27, 2024...

Duty To Report Deaths Bill Passes Final Committee

Tallahassee, FL – SB 768 sponsored by Senator Linda Stewart (D-Orlando), at the request of...

Attorney Matt Dolman Provides Crucial Update on the Camp Lejeune Contaminated Water Lawsuit

CLEARWATER, FLORIDA, UNITED STATES, July 8, 2024 / -- Attorney Matt Dolman of Dolman Law Group Accident & Injury Lawyers...

9 Community Groups and Businesses Appeal Television City Project

LOS ANGELES, June 27, 2024 /PRNewswire/ -- Nine community groups and local businesses in the Beverly Fairfax neighborhood have filed appeals with the City...

Rapha Clinic of West Georgia Announces 10th Annual ‘Sound of Medicine’ Fundraiser Concert

Faith-based medical and dental clinic to host event at University of West Georgia on Sept. 26 We are so excited to...
celebrity reality tv