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 hits $21k: the 'bulls are ready to run!'

 

January 16, 2023 (Investorideas.com Newswire) The Bitcoin price rally demonstrates that cryptocurrency investors are pricing in more favourable market conditions in 2023 as inflation looks set to peak, affirms the CEO and founder of one of the world's largest independent financial advisory, asset management and fintech organizations.

Nigel Green of deVere Group, a high-profile crypto entrepreneur, is commenting after Bitcoin reached above $21,095 on January 13 for the first time since November 8 2022, before falling back slightly.

At the time of this release, the largest crypto by market capitalisation is $20,890, according to the exchange deVere Crypto.

He says: "We are technically still in a bear market, but the signs are the bulls are beginning to take back control.

"Bitcoin price has jumped yet again- another 3.8% in the last 24 hours - on top of gains made through the week. It's estimated that around $70 billion has been traded in crypto over the last day alone."

He continues: "The relief rally began on the back of the latest U.S. inflation data which was released on Thursday. It revealed U.S. CPI slowed to 6.5% in December from 7.1% the previous month.

"As inflation in the world's largest economy is, it seems, being brought under control thanks to the Federal Reserve's aggressive interest rate hikes, it makes it more likely that the central bank will begin to take its foot off the brake of the economy by slowing the hikes.

"The Fed will continue hiking rates for a while yet (albeit at a slower pace) as they can't afford to slide backwards. Officials will continue to sound hawkish too in order to avoid over-excitement in the markets and wider complacency."

The asset classes that have fallen hardest due to central banks' policy tightening in 2022 may be the strongest performers during the unwinding of the rate hike programmes, predicts the deVere CEO.

"These include cryptocurrencies, such as Bitcoin, which alongside tech stocks, were hit hard.

"As the central banks begin to stop tightening the screws, and the cyclical upturn gets underway, these asset classes could outperform others.

"Knowing they are likely to be rewarded for doing so, many crypto investors are positioning themselves now for the pivot."

The developments will be welcomed by crypto enthusiasts after Bitcoin lost over 60% of its value in 2022, with many other tokens experiencing similar losses, due to the bleak macro outlook, the collapse of several crypto firms, and greater regulatory scrutiny.

Nigel Green concludes: The 'crypto winter' is thawing amid growing signs that inflation is beginning to cool.

"Of course, the crypto market will not go in a straight line - no market ever does - but we expect the bears to go into hibernation and bulls are ready to run."

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

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


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


That's all it takes to get an article published on Investor Ideas - Learn More





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