The CEO of one of the world’s largest independent financial advisory, wealth management and fintech organizations predicts that the Bitcoin price is likely to reach $50,000 before the end of this month amid rising geopolitical tensions and growing institutional investment. As Kriptokoin.com, we are giving the details…
deVere CEO: $50,000 can be seen for Bitcoin
deVere CEO Nigel Green’s rise forecast indicates that the price of the world’s largest cryptocurrency by market value it came at a time when it increased more than 15 percent in a single day. “Over the past 24 hours, Bitcoin has risen by more than $6,000 at one point to over $44,000 – the sharpest daily increase since February 2021. As it stands now, I see no reason for this price momentum to drop. We can expect Bitcoin to reach $50,000 by the end of this month,” he said.
The expert says it’s too early to say whether 2021 will reach the $69,000 record set in November. “It’s not a huge leap from $50k to $68k, and the world and crypto market has been moving faster lately. It’s definitely not likely,” he says. The deVere CEO and founder said he believes geopolitical tensions and institutional investment are the main drivers for sustaining price growth, adding:
The Ukraine-Russia situation has caused significant financial turmoil, and individuals, businesses and indeed government institutions – is looking for alternatives to traditional systems – not just locally, but globally. The dollar’s reserve status may ultimately be in jeopardy, as alternatives like crypto are reliable and viable.
Investors will increase their investment in cryptocurrencies
Knowledgeable investors know the danger in the dollar’s status and will further increase their exposure to cryptocurrencies before prices rise further. According to the expert, recent developments have drawn attention to Bitcoin’s key features, which include being unlimited, permissionless, censorship-proof, and impregnable.
Noting that these natural features have enormous and increasing value, he states that this is why Bitcoin is currently the 14th most valuable currency in the world. “I expect it to jump even higher in the rankings in the coming months,” he says. He also says, “If I really had some money, I would definitely buy some Bitcoin, some gold, some silver and a little bit of all kinds of assets, but I can only recommend them for those who have the money to invest.”
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