The chief executive of financial services giant DeVere Group is predicting that the crypto market will recover due to deep-pocketed investors buying the dip.
After accurately predicting the latest macro market correction, CEO Nigel Green tells Business Leader in a new interview that he foresees Bitcoin (BTC) reaching $100,000 sometime during the first half of 2022.
“Despite the recent turbulence, the trajectory of Bitcoin and other major cryptos is upwards. I would not be surprised to see Bitcoin reach $100,000 in the first half of 2022.”
According to Green, whales and blue-chip investors aren’t worried about market dips as they allow them to purchase more crypto and focus on long-term gains.
“Whales, which are individuals or entities that hold enough cryptocurrency to have the potential to move currency valuations, shrug off concerns about dips, use them as buying opportunities, and focus on long-term trends. This approach alone has the power to push crypto values up.”
Green says that he’s embracing the latest market crash and topping off his portfolio as he and other high-profile investors view crypto assets as the future of money.
“Like many serious crypto investors, I’m embracing this short-term volatility for longer-term gains. I’m using the lower prices of Bitcoin and other major cryptocurrencies to top up my portfolio.
Why? Because like many major corporations, financial institutions, governments, prestigious universities, and household-name investing legends, I’m confident that digital currencies are the inevitable future of money.
“In our increasingly tech-driven, globalized world, it makes sense to hold digital, borderless, decentralized currencies. In addition, adoption and demand are increasing all the time, whilst at the same time, supply is decreasing.”
At time of writing, BTC is exchanging hands at $47,500, about 31% down from its all-time high at $69,000.
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The post After Calling Macro Market Correction, DeVere CEO Updates Outlook on Bitcoin and Altcoin Market appeared first on The Daily Hodl.
