Nigel Green is bullish on Bitcoin: The CEO of financial consulting firm deVere Group is expecting an explosive rally in the fourth quarter of 2022. Will the crypto markets begin the big turnaround soon?
Financial manager expects “significant rise”
The “Crypto Fear & Greed” Index indicates: “True fear” currently the markets are firmly entrenched. Most investors think they are in a bear market, waiting for a trend to reverse. Institutions, on the other hand – invest in Bitcoin (BTC). Large investors seem to be looking forward to a new bull market.
One of them: Nigel Green from the deVere Group. One of the world’s largest independent financial advisory, asset management and fintech companies – and its CEO predicts an explosive Bitcoin rally over the coming months.
According to Green, Bitcoin investors now have every reason to be happy, as BTC broke the longest weekly downturn in its history. adds:
“The price rally has begun, probably with the pressure of cryptocurrencies and bitcoin beacons. I believe we are about to see a bull run that will have a significant advantage for the world’s largest digital currency in the fourth quarter of the year. ”
Bitcoin is currently trading at $ 30,547 after an imperceptible rise of 0.11% in the last 24 hours. The volume of trade is already declining again, falling by 40% from the same time yesterday.
Overall, the crypto market cap has reached 0.57% in the past day and is now at $ 1.25 trillion (Coinmarketcap.com data).
Confident CEO: Bitcoin Recovery is “About to Go”
According to Green, there is a strong correlation between Bitcoin and the largest global stock markets, such as Wall Street S & P500. He is therefore confident that the recent market downturn is on the verge of recovery and that recovery is “imminent”.
Again, this is a good indicator of a “save” on a purchase spree by tracking services. They would use cheap valuations to increase their holdings in quality companies, ie create and grow wealth in the long run, Green says. And:
“Bitcoin will benefit from a stock market rally as investors return to more risky assets.”
In addition, more investors would see Bitcoin as an alternative to the dollar. The US government has “feverishly” started adding digital dollars to its economy during the pandemic. That narrows its value but increases Bitcoin’s long – term prospects, Green explains.
“Bitcoin has fallen back and we can expect it to fly by the end of the year.”
Last updated June 9, 2022
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