Investorideas.com

Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS




Share on StockTwits

Bitcoin price will be "permanently hiked" by institutional investors: deVere CEO

 

March 29, 2021 (Investorideas.com Newswire) A Bitcoin price drop will trigger a surge in institutional investment, driving up the price permanently, says the CEO of one of the world's largest independent financial advisory and fintech organizations.

The observation from Nigel Green, chief executive and founder of deVere Group, comes after the world's largest cryptocurrency, which is up nearly 500% since the rally started in October, has pulled back after hitting all-time price highs earlier this month of more than $61,000.

Mr Green says: "Bitcoin has been on an epic rally since last October. Almost week-on-week, the price has been smashing through barrier after barrier, reaching new highs.

"This momentum came as investors are looking for alternatives to traditional currencies as central banks and governments continue to helicopter new cash into economies, as Wall Street giants increasingly pursue crypto activities, and as billionaire entrepreneurs such as Tesla's Elon Musk and Twitter's Jack Dorsey pile into the cryptocurrency, amongst other factors.

"This has all spiked the hype in the media and massive interest amongst retail investors, who are keener than ever to invest in digital currencies, dubbed 'the future of money'."

He continues: "However, this momentum currently appears to be slowing down, with Bitcoin's recent consolidation sitting around $55,000.

"The current slow-down, together with greater ongoing regulatory scrutiny, can be expected to prompt the herd-like mentality of many inexperienced investors who will now cash-out their Bitcoin, forcing the price temporarily lower.

"And this is when institutional investors, many of whom are just beginning to dip their toe in the crypto water, will likely dive in. They will employ the 'buy the dip' mantra.

"With them, they will bring their enormous capital, clout and expertise to the market, and this will then prove to be another considerable confidence shot for even more retail investors."

Mr Green goes on to add: "As such, I believe this temporary Bitcoin price slowdown could trigger a surge in institutional investment, leading to prices going up permanently."

Last month a deVere Group global poll found that 70% of those Baby Boomers and Gen X respondents are already invested in digital currencies or are planning to do so this year.

At the time, Nigel Green said: "Baby boomers and Gen X, who own most of the world's wealth, are embracing the cryptocurrency revolution. This will serve to further bolster prices in the market in the longer-term."

The deVere CEO - who predicted the figure and the timing of Bitcoin hitting its all-time high this month - concludes: "It's likely that institutional investors are waiting for prices to dip a little further and are poised to significantly increase their exposure to crypto when they do.

"Should this happen, as we expect it will, we know that this will drive prices upwards."

e: george@priorconsultancy.co.uk
t: +44 207 1220 925
Twitter: @PriorConsults

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

More Info:


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp






News and Research for Bitcoin, Blockchain, Digital Currency Stocks and ICO's

Get more Bitcoin, Blockchain, Digital Currency stock investor ideas - news, articles, podcasts and stock directories

Buy a crypto guest post on Investorideas.com