deVere Group CEO Expects Bitcoin Price Rally to Continue Until Year End
On Friday (October 16), Nigel Green, the CEO of independent financial consultancy deVere Group, expressed in a blog post how bullish he was about the future of Bitcoin.
deVere Group was founded in 2002 by Nigel Green. The Dubai-based firm says that it has “well over 80,000 clients in more than 100 different countries – and in excess of $10 billion under advice and administration.”
In a blog post published on Friday, Green predicted that we might be able to witness a “mini-boom” similar to the one in late 2017 that took the Bitcoin price to nearly $20,000:
“There’s been something of an avalanche of interest in Bitcoin in recent weeks from household-name investors. Investor activity is picking up considerably with various on-chain metrics and ongoing – and heightening – global political, economic and social turbulence suggesting that there will be a price surge before the end of the year.
“Like gold, Bitcoin can be expected to retain its value or even grow in value when other assets fall, therefore enabling investors to reduce their exposure to losses. Investors will increase exposure to decentralised, non-sovereign, secure digital currencies, such as Bitcoin, to help shield them from the potential issues in traditional markets”.
Later, he added:
“There’s a growing sense that we’re set to experience a mini-boom similar to that at the end of 2017. Prices are yet to catch-up with investor interest – but this is only a matter of time as investors will not want to sleepwalk towards perhaps year-high prices in the run-up to the end of 2020…
“There’s been a notable ramping-up of interest in Bitcoin amongst investors since the end of summer. Indeed, it has been the best performing week for one of the year’s best-performing assets since July. I can see no reason why this upward trajectory will not continue between now and the end of the year.”
Featured Image by “SnapLaunch” via Pixabay.com
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