The CEO of financial advisory and asset management firm Devere Group shared his Bitcoin and altcoin market forecasts. The CEO argues that a purchase should be made while Bitcoin is falling. He even offered many reasons to take BTC to the bottom. He also said, “Despite the recent turbulence, I believe the trajectory of Bitcoin and other major cryptos is upward.” Here are the details…
DeVere CEO buys more Bitcoin
Nigel Green, CEO of advisory and asset management firm Devere Group, has confirmed that Bitcoin is bottoming out. In a blog post this week, the executive explained why he bought more Bitcoin in the midst of sales. Green pointed to the tightening in the monetary policy of the US Federal Reserve (FED). Therefore, he emphasized that the US dollar strengthened. He stated that this situation was felt with the collapse in BTC, altcoins and global stock markets. He also used the following expressions:
But like many serious crypto investors, I buy at the bottom. I embrace this short-term volatility for longer-term gains.
Whales influence market price
Green also noted that whales are giant crypto-holding investors and have enough assets to have the potential to move currency valuations. He pointed out that “whales have been selling in recent weeks”. He pointed out that this frightened other users and lowered the market price. “This then allows the big players to buy back more and cheaper,” he added. Green used the following statements:
I feel they are preparing to make their moves to buy and replenish assets in the coming weeks. There are also other notable whale activities. The number of new wallets holding 10,000 to 100,000 Bitcoins in the last 30 days has increased by 103.
Green also cited the fundamentals of crypto as one of his reasons to buy, emphasizing that the drop in price is a “significant buying opportunity.” According to the expert, cryptocurrencies will have an inevitable future. He states that he has joined many big companies, financial institutions, governments, prestigious universities and famous investment legends in this regard.
Trajectory of BTC and other cryptocurrencies, upwards
“In our increasingly tech-driven, globalizing world, it makes sense to hold digital, borderless, decentralized currencies,” Green said. “Furthermore, adoption and demand are constantly increasing, while supply is decreasing,” he added. As we reported on Kriptokoin.com, Green has made some bullish predictions about the bitcoin price several times. He predicted a bull run and a “significant bounce” for BTC in June. As a result, the manager came to the following conclusion:
Despite the recent turbulence, I believe the trajectory of Bitcoin and other major cryptos is upward. So I see the current drop as a discount.
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