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Devere Group Predicts a Bull Run and ‘Significant Bounce’ for Bitcoin in Q4

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The CEO of Devere Group, a financial advisor and asset management firm, predicted a bull run and a significant jump in the price of bitcoin in the fourth quarter of this year.

Devere CEO Predicts Bitcoin Growth in Q4

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Financial consulting company Devere Group predicts that the price of bitcoin will rebound significantly in the fourth quarter of this year. Nigel Green, founder and CEO of Devere, said early last week:

I believe we will soon see a bull run leading to a significant Q4 rebound for the world’s leading digital currency.

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Boss Devereux explained, “Bitcoin is currently highly correlated with the world’s leading stock markets such as Wall Street’s S&P500 and I am confident that the recent market downturn is close to bottoming and a rally is imminent.”

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The CEO added:

Bitcoin will benefit from the stock market rally as investors return to riskier assets.

Green explained that one of the key factors that will drive the Bitcoin rally is that investors are using BTC as insurance against high inflation.

Many people, including famed hedge fund manager Paul Tudor Jones and venture capitalist Tim Draper, believe that cryptocurrencies are a good hedge against inflation.

Another factor that the head of Devere noted is that bitcoin is increasingly seen as an alternative to fiat currencies. Veteran investor Bill Miller previously explained that the Russo-Ukrainian war and subsequent sanctions against Russia made people think about creating an alternative currency to the US dollar.

“The U.S. government has begun frantically adding digital dollars to its economy during the pandemic, diluting its value but increasing the long-term outlook for bitcoin,” Green noted, emphasizing:

Investors are increasingly looking at bitcoin as an alternative to the dollar.

Green also said that his projected Bitcoin bull run will be “supported by growing investment by large institutional investors who bring capital, experience and reputation with them.” The April survey shows that 80% of institutional investors believe that crypto will outperform traditional investments, 70% consider crypto to be a sound investment, and 68% said they strongly recommend this asset class in investment strategies.

Finally, CEO Devere noted that major regulators are looking to create a regulatory framework for cryptocurrencies. He opined:

Regulation, which I believe is inevitable, would provide more protection and therefore more credibility to both retail and institutional investors.

Green’s prediction was made just a few days before the market downturn over the weekend. At the time of writing, BTC is trading at $27,748.30. It has fallen 2.5% in the last 24 hours, more than 7% in the last seven days and nearly 26% in the last year.

What do you think of Devere CEO Nigel Green’s outlook? Let us know in the comments below.

Denial of responsibilityA: This article is for informational purposes only. This is not a direct offer or solicitation to buy or sell, nor is it a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods or services mentioned in this article.



Credit : news.bitcoin.com

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