Once again, the flagship crypto is taking center stage. Digital assets never cease to spark discussion. As the value of the crypto market hit an all-time low, some investors remain optimistic. For Nigel Green, a significant rise in bitcoin (BTC) is to be expected in the fourth quarter of this year.
Bitcoin (BTC) will rebound according to Nigel Green
The fall in the market worries many investors. More and more people are thinking of selling their assets in order to protect themselves from losses. This phenomenon diminishes the confidence that people had in these assets. However, the deposit of the markets is sometimes the strong point of this sector. When we think it’s the end, an event occurs to restart the courses.
Many cryptos have received bad reviews since the markets crashed. But despite this, they remain in the race and continue their execution. While experts predicted the extinction of some cryptos, they are gaining more and more sympathy from investors despite their bearish prices. However, only a recovery in the markets could restore confidence to the holders of these crypto assets.
Nevertheless, other people remain optimistic and believe in the future of cryptocurrencies. This is the case of Nigel Green, CEO of the Devere group. For him, a significant rise in bitcoin will take place by the end of the year. According to him, BTC’s correlation to major global stock markets is a clue to bitcoin’s rebound.
Indeed, when fiat currencies such as the dollar are rising, the price of the main cryptocurrency falls. The downturn the market is currently experiencing is close to bottom. As such, there is no doubt that a rally is imminent.
Investor reaction is another indicator to consider. As inflation rages, more and more investors are using BTC as a shield. This is due to the fact that the latter preferred to return to more risky assets. For the Devere Group CEO, this is another key factor driving bitcoin’s rally.
Bitcoin to better protect against inflation?
Cryptocurrencies are a curiosity that dresses a lot of people. However, only the most seasoned stay there. Making profit from digital assets is easy, but only for those who understand the market. While some are wary of them, others think they are the best protection against inflation. Hedge fund manager Paul Tudor and venture capitalist Tim Draper agree.
More and more individuals, businesses and even countries are embracing bitcoin. Because of this, many people define the flagship crypto as an alternative to fiat currencies. According to a survey done in April, 70% of people think cryptos are a reliable investment. 😯% think bitcoin will overtake traditional investments. And 68% of institutional investors recommend funding cryptocurrencies in investment strategies.
Bitcoin price has fallen over 26% in the past year and 2.5% in the past 24 hours. However, that doesn’t seem to stop Nigel Green’s ardor. The war between Russia and Ukraine also has an impact on the rise of bitcoin which will occur in the fourth quarter of this year according to the CEO of Devere. Indeed, the sanctions applied against Russia have caused people to think of an alternative to the US dollar.
Investor reactions to the future of cryptocurrencies are factors in bitcoin’s rise that adjusted late in the year according to consumers Nigel Green. According to him, the use of BTC as an alternative to extreme inflation is a positive point for the recovery of the first digital currency. In addition, a regulation that will not be long in coming would be an additional protection and at the same time, a factor in the rebound of bitcoin.
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The world is changing and adaptation is the best weapon to survive in this undulating universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. In order to share my experience and make known a field that fascinates me, nothing better than writing informative and relaxed articles at the same time.