The Crypto space saw mild relief over the past two days as Bitcoin prices rose to levels above $24,000 for the first time since the selloff. The market has become greener, attracting traders. But as Coinpedia predicted earlier, it turned out to be a bullish trap set to keep the bulls stuck at the higher price.
Therefore, the markets began to collapse again as the BTC price is also approaching crucial support again. The asset is expected to head towards the lower crucial levels again in the coming couple of hours that may encounter a massive drop ahead. However, the crypto space in the long term appears to be pretty bullish as predicted by the CEO of financial advisory firm, deVere Group.
Nigel Green, the company’s CEO, thinks asset prices could recover as soon as he says so,
“In recent months, the cryptocurrency market has gone through a difficult period which, like all risk assets, including equities, has been hit by a wave of investor gloom based on fears of a global economic slowdown, l inflation and geopolitical factors, among other issues”,
The CEO further believes Bitcoin is all set to attract more buyers in the coming days as the confidence is about to rebound within the markets.
“People are starting to realize that, clearly, headwinds remain for economies around the world, but that some quality assets, like Bitcoin, are currently cheap,” he says
However, the CEO believes Bitcoin’s volatility could decrease significantly in the coming days and the crypto space could testify to the true value of the asset. Moreover, even though the price of BTC has fallen over 80% from its hype, Bitcoin still remains the best performing asset of the decade.
“ We expect a less high-octane, more steady, continued upwards trajectory for Bitcoin over the next few months”, he added
