The financial consulting giant says that the declines in Bitcoin price will end in the near future. Nigel Green, CEO of financial advisory firm deVere Group, spoke about the crypto bear market. He thinks the bear market is months away. It is also stated that the CEO is quite optimistic.
deVere Group CEO talks about the drop in Bitcoin (BTC)
According to the CEO, the declines will stop if inflation begins to slow and central banks take steps to ease monetary policy. Green states that this will increase the prices of Bitcoin (BTC) and other cryptocurrencies. Also, according to Green, assets that lost value after their rise, such as cryptocurrencies, could start to recover in April 2023. The CEO has this to say on the subject:
Assets that benefited most from low interest rates were naturally most affected by the hikes in 2022. These include stocks and cryptocurrencies, among other risk assets, particularly in the tech sector.
Also, the CEO of deVere Group is very optimistic about the uptrend with the start of 2023. As a result, he says that with the end of 2022, the rallies will begin in the new year:
It is likely to be in the second quarter of 2023. We hope these will be assets that will experience some of the biggest rallies as the current schedule is relaxed. The high-octane rush of previous rallies seems unlikely. However, when a loosening begins, we will witness a more stable, continued upward movement for Bitcoin. Confidence in the markets is returning.
Green said this period is temporary and should be evaluated.
In addition to all this, Green states that the current price of Bitcoin is at a level that can be evaluated for long-term investors. The CEO specifically says the following about Bitcoin price:
Many serious, long-term investors will use the current lows as a buying opportunity. If there’s one good thing about raises, the room is that the free money can see the true value of assets as the sugar flow disappears.
However, after its ATH in 2021, the price of Bitcoin has dropped by almost 70 percent. But despite all the drops, Bitcoin remains the best performing asset class. cryptocoin.com As we reported; BTC and other cryptocurrencies were hit as a result of the FTX crisis. Prices began to decline immediately. As disclosures about the FTX crisis increased, the dips and confidence in the crypto market took a hit. However, according to analysts, the crypto market will be stronger in the near future.
Bitcoin (BTC) price is currently trading at $16,566, down 0.2 percent in the last 24 hours.
