CEO of deVere Group Predicts “Final Washout” of Crypto Markets Ahead of Significant Price Jump
The CEO of financial advisory firm deVere Group, Nigel Green, is optimistic about crypto assets in the longer term.
Green says that while cryptoassets aren’t “out of the woods yet,” their prices will eventually increase.
“It has been a difficult time in recent months for the cryptocurrency market which, like all risk assets including stocks, has been hit by a wave of gloomy investor sentiment based on fears of global economic slowdown, inflation and geopolitical factors, among others.
Crypto is not out of the woods yet, with perhaps a small and final washout on the way before a significant price jump towards the end of the year.”
According to the CEO of deVere Group, Bitcoin (BTC) is set to attract buyers as it is a quality asset with an attractive valuation.
“People are starting to realize that there are clearly still headwinds for economies around the world, but that some quality assets, like Bitcoin, are currently cheap.
Confidence is creeping back into all markets.
On Bitcoin in particular, people are appreciating the inherent current and future value of digital, borderless, global currencies and will start moving now to take advantage of the current lower valuations.”
Green goes on to say that Bitcoin will be relatively less volatile over the next couple of months.
“When the sugar rush of free money wears off, we can see the real value of assets.
And despite a 50% decline from its hype and heat-fueled November high, Bitcoin remains the best asset class of the decade.
We expect a less high-octane, more even, still upward trajectory for Bitcoin over the next few months.”
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