According to Nigel Green – CEO and Founder of deVere Group – investors should expect a “significant bounce” of bitcoin’s USD valuation in Q4, 2022. In his view, the primary cryptocurrency is highly correlated to global stock markets, and the decline for all is close to an end.
“We will soon see a bullfight”
In a recent statement, Green said there are good indicators that bitcoin’s bottom is near, as “tracing services reveal that ‘insiders’ are buying.” In his view, many people have taken advantage of the current situation, increasing their crypto holdings at lower prices so that they can “grow their wealth in the longer term.”
deVere Group’s executive thinks investors will shift their focus towards riskier assets in the near future, including bitcoin:
“I think we will soon see a bull run that will lead to a significant rebound in the fourth quarter of the year for the world’s leading digital currency.”
Another reason why BTC could be close to recovery is that numerous individuals might pick it as a hedge against the galloping inflation. Regarded by many as digital gold, the asset has a maximum supply of 21 million coins ever to exist and is easily accessible.
The movement is widespread in countries where inflation has reached record levels. Turks, Brazilians and Nigerians are some examples.
Green also predicted that bitcoin will catch the attention of major financial institutional investors who “bring with them capital, expertise, and reputational pull.”
Finally, the executive expects global watchdogs to impose comprehensive regulation on the crypto sector in the coming months. Thus, investors will have additional security when dealing with the asset class:
“Regulation, which I believe is inevitable, would give more protection and, therefore, more confidence to both retail and institutional investors.”
Green’s previous predictions
It is worth mentioning that the deVere Group CEO was quite accurate in his predictions on the bitcoin price. In early March this year, he predicted that the Russian-Ukrainian military conflict could push BTC’s valuation to $50,000 by the end of the month. The asset was close to reaching this level, registering close to $48,000 on March 29.
In April 2021, he forecasted that the cryptocurrency will “hit or even surpass” a new all-time high price by the end of 2021. In November last year, it rallied to almost $70,000.
