The CEO of Devere Group, a financial advisory and asset management firm, has shared multiple reasons why he is buying the bitcoin dip. “Despite the recent turbulence, I believe that the trajectory of bitcoin and other major cryptos is upwards,” he said.
Nigel Green Explains Why He’s Buying More Bitcoin
Financial advisor and CEO of asset management firm Dever Group Nigel Green has confirmed that he is buying Bitcoin Dip. In a blog post published this week, the executive outlined the various reasons to buy more bitcoin amid the selloff in the crypto market.
“The continuing strength of the U.S. dollar, which is down to policy tightening by the Federal Reserve, is being felt by bitcoin and all other risk assets, as we have seen in the recent drop in global stock markets,” he began, adding:
But like many serious crypto investors, I am buying dips. I am accepting this short term volatility for long term gains.
Green proceeded to share why he is buying more BTC. “One reason is that I’m ‘whale watching,’” he revealed, noting that “Whales are investors who are giant crypto holders, holding enough assets to have the potential to move currency valuations.”
He continued: “In recent weeks, whales have been selling out, which has the effect of bringing down the market price as others panic and panic. This then leads the big players down the track to buy back more, and cheaper. allows.
The Devere CEO opined:
I sense that they are preparing to make their moves to buy and top-up their holdings in the coming weeks.
“In addition, there is other notable whale activity happening. There has been a 103 jump in the number of new wallets holding 10,000 to 100,000 bitcoins in the past 30 days.
Green also cited the fundamentals of crypto among the reasons to buy, emphasizing that the dip in price is a “key buying opportunity.”
He added: “Like many major corporations, financial institutions, governments, prestigious universities and household name investment legends, I believe digital currencies are the inevitable future of money.”
“In our increasingly tech-driven, globalized world, it makes sense to hold digital, borderless, decentralized currencies,” Green opined. “In addition, adoption and demand are increasing all the time, whilst at the same time, supply is decreasing.”
The Deore Group executive concluded:
Despite the recent volatility, I believe that Bitcoin and other major cryptocurrencies have an upward trajectory. That’s why I see the current decline as a discount.
Green has made some bullish forecasts about the price of bitcoin on several occasions. In June, he predicted a bull run and a “significant bounce” for BTC.
