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Bitcoin (BTC): Why is CEO Devere still bullish?

Bitcoin (BTC): Why is CEO Devere still bullish?

Devere Group is a financial advisory and asset management company. The CEO recently shared the many reasons why he continues to buy bitcoin (BTC). While he acknowledges the turmoil in the market, he believes the overall long-term trajectory is upward for bitcoins and major altcoins.

Strategy #1: Take advantage of volatility

In a recent article published this week on his blog, leader Nigel Green returned to his reasons for buying bitcoin at a low point. In the context of the liquidation of the cryptocurrency market, such a position is rare and should therefore be highlighted. His analysis follows. The increasing value of the US dollar due to the Federal Reserve’s policy to fight inflation has a strong impact on the crypto market. However, their strategy is to take advantage of this short-term volatility to achieve long-term gains.

Strategy No. 2: Follow the locations of the whales

The CEO drew attention to what the whales are doing in the market. Whales are investors who have a significant share of cryptocurrencies, so that they have the power to manipulate the market by decreasing or increasing the value of an asset according to their position. According to him, the huge sale of whales in recent weeks will enable the big players to buy more, and cheaper. According to him, in the last 30 days, 103 new wallets have registered between 10,000 and 100,000 bitcoins. Such an index indicates that the whales consider that the low points have been reached.

Strategy No. 3: Depending on the fundamentals of cryptocurrencies

Mr. Nigel Green also mentioned the fundamentals of cryptocurrency among his reasons to buy at current prices. According to him, and some businesses, financial institutions and even governments, digital currencies are the future of money.

For him, our world is increasingly driven by technology and globalization, so holding digital currencies makes sense. Indeed, these are borderless and decentralized, and therefore correlated with the evolution of our society. If supply decreases, adoption and demand will continue to increase. In June 2022, Devere’s executive predicted a rise and “significant payback” for bitcoin.

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Sami AYADI avatar
Sami AYADI

As for the angels of intervention in the current monetary system, I oppose DeFi, digital assets and the metaverse. Lawyer in Luxembourg, I am interested in cryptocurrency investment funds.

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