Nigel Green, CEO of the deVere Group, said long-term investors are taking advantage of the volatility in the market.
The CEO of the United Arab Emirates-based company also made statements about the general condition of the markets.
“Markets think major central banks, including the Fed and the Bank of England, will continue to raise interest rates to beat inflation. The five most powerful central banks in the world have stated that they will not give up on raising interest rates. We expect an increase of 75 basis points on November 1-2,” he said.
Green said that volatility could increase further in the coming period.
“Given the current correlation of Bitcoin and Ethereum with exchanges, we expect more volatility from the crypto market as we come to the end of 2022. But serious investors will not see this as a bad thing. Institutional investors will treat it the same as turbulence experienced in any market.
Some of the world’s top investors are constantly using market volatility as a big buying opportunity in traditional financial markets. The cryptocurrency market is no different. If used effectively and efficiently, volatility can be an extremely powerful investment strategy. Knowledgeable and long-term crypto investors will try to take advantage of panickers by buying digital coins cheap to build their portfolios.”
The deVere Group CEO also said that he sees an important buying opportunity for Bitcoin:
“The continued strength of the US dollar due to the Fed’s tightening policy is being felt by Bitcoin and all other risky assets. But like many serious crypto investors, I buy at the bottom. I embrace this short-term volatility with long-term gains.
Despite the recent turmoil, I believe the trajectory of Bitcoin and other major crypto assets is upwards. For this reason, I see the current decline as an opportunity.”
