Fri 14 Oct 2022 ▪ 14:00 ▪
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We speak of a bear market when there are prolonged falls in prices. Currently, cryptocurrencies are bearing the full weight of the bear’s claws. Bitcoin, the queen of cryptocurrencies, which was trading at $ 69,044 on November 10, is struggling to stay above $ 20,000. Also, Ether, as well as Dogecoin and Shiba Inu seem relatively far from their ATH from last year. When is the next bull run? Comments from Niel Green, CEO of the deVere Group.
Further volatility of cryptocurrencies in the bear market
” Long-term #crypto savvy investors will look to take advantage of panic sellers by buying their digital currencies “at a low price,” says Group CEO Devere.
This commentary excerpt was taken from a Nigel Green briefing on the current situation in the cryptocurrency market published on the official website of the deVer group. According to him, this downward trend is expected to continue until the end of the year. Furthermore, we should expect further volatility in the crypto space in the coming months.
” Markets are now evaluating that major central bank policymakers, including the US Federal Reserve and the Bank of England, are likely to remain intent on raising interest rates in their battle against surprisingly stubborn inflation. “, He specified.
As a reminder, Fed officials said last Thursday they wanted to keep the key rate hike as inflation persists. The bullish CEO of the deVere group had therefore planned further hikes in the same rates by the beginning of November. These could go up to 75 points.
” Meanwhile, members of the Bank of England’s Monetary Policy Committee have made it clear that they will make a steep rate hike at the next Committee meeting on November 3rd. “
Analysts have consistently confirmed a decline in the value of equity markets as soon as an upward revision of interest rates emerges. History testifies to this. Indeed, this decision has always led to reluctance at the corporate level. As a corollary, this always results in a lack of profits.
Hence his prediction:
” Given the current correlation of bitcoin and ether with equity markets, we expect additional, possibly increased, volatility in the cryptocurrency market by the end of 2022. “
A situation that would benefit the best investors
Several analysts have already suggested that there will be no bullish run this year. CZ has even gone so far as to say that the next cryptocurrency price hike won’t happen until 2026.
As a financial advisory and wealth management expert, Nigel Green suggests buying bitcoin. Instead of complaining or selling cheaply, Binance boss discouraged. We need to see the bear market as an “opportunity.” “.
” However, for serious investors, this won’t necessarily be considered a bad thing. […] Big investors, including institutions, will treat it like turmoil in any other market. […] Some of the best investors in the world consistently use market volatility as their top buying opportunities in traditional financial markets, and the cryptocurrency market is no different now. “
Indeed, there is nothing to fear in volatility, Green continued. Provided you consider it as ” an extremely powerful investment strategy “And use” effectively and efficiently “.
Didn’t Robert Kiyosaki advise us to buy bitcoin before everything collapsed?
It should also be noted that the King of Crypto remains the best performing asset class in the world. Even GAFAMs cannot get the same returns as bitcoin. The latter, for example, shows returns 355.22% higher than Amazon’s in 5 years.
For Nigel Green, volatility additional to come it will surely create a panic among uninformed investors. Something for the benefit of serious investors who will take advantage of the situation to stock up on cryptocurrencies.
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The blockchain and crypto revolution is underway! And the day the impacts are felt on the most vulnerable economy in this world, against all hope, I will say that it has something to do with it.