- deVere Group CEO Nigel Green predicted Bitcoin will bounce in Q4.
- Green cited several key reasons for his prediction.
- Bitcoin’s price has tumbled to $23.9K, down 10% in the last 24 hours.
Nigel Green, CEO of deVere Group, claims that the recovery of the leading cryptocurrency Bitcoin is now “underway.” Noting that investors should anticipate a “significant bounce” in the fourth quarter this year.
Established in 2002 by Nigel Green, deVere Group is one of the world’s leading financial advisory organizations that claim to provide high-class professional advice to its clients and investors.
According to Green’s prediction, the price recovery has already started and it will bring displeasure to “crypto cynics and Bitcoin bashers.”
The deVere founder said:
I believe that we’ll soon see a bull run that will lead to a significant bounce in the fourth quarter of the year for the world’s leading digital currency.
The financial advisory organization chief mentioned that Bitcoin is highly correlated to leading global stock markets and is probably going to recover alongside stock markets.
Adding that he’s positive that the ongoing market downturn is nearing its bottom peak and the rally is coming. Green said, “Bitcoin will benefit from a stock market rally as investors move back into riskier assets.”
Other indicators for the Bitcoin bull run according to deVere Group CEO include the potential of Bitcoin as a hedge against inflation and the potential of Bitcoin as an alternative to the US dollar. Green also believed that crypto regulations will provide protection that would mean more reliability for Bitcoin from both retail and institutional investors.
Bitcoin ended the week at $29,900, which was higher by $450 compared to last Sunday. Yet as per CoinMarketCap, Bitcoin’s price plunged to over $23.9K at the beginning of the week, down by more than 10% in the last 24 hours.
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