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Bitcoin’s crypto winter is over, says leading expert

Darren Parkin

Bitcoin looks to be poised on the verge of its next bull run, according to the head of one of the world’s most respected independent financial advisory organisations. Nigel Green, chief executive of deVere Group, claims that Bitcoin’s sustained foray above $8,000 today looks sustainable enough to build for a push even higher, propelling the value of the decade-old cryptocurrency to heights unseen since 2017. “Ditching its trademark volatility, Bitcoin has been stuck in no-man’s land for over a week, oscillating within a $600 range,” he said in a Coin Rivet article for the Daily Express. “But the price of the world’s largest cryptocurrency surged to the upside on Wednesday and cleared the key $8,000 resistance level – this could

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Bitcoin’s price has bottomed and the crypto winter has come to an end, insists the CEO of one of the world’s largest independent financial advisory organisations.

The comments from Nigel Green, founder and chief executive of deVere Group, come as Bitcoin – the world’s largest cryptocurrency by market capitalisation – jumped 20 per cent in less than an hour this morning.

“After being in bear territory there is a growing sense that Bitcoin is back,” he said.

“I’m now calling that the market has bottomed and the so-called crypto winter has come to an end.

“I believe Bitcoin will now move higher over the next few weeks and months, making steady gains for investors. As the largest cryptocurrency by market cap, this will have a positive impact on prices in the wider crypto sector.”

The Bitcoin price crossed the $5,000 line early this morning, touching the highest level since November 2018. All other major cryptocurrencies – including Ethereum, XRP and Litecoin – experienced gains of around 10 per cent.

Dramatic jump

“This dramatic jump is likely to attract many investors who have been sitting on the sidelines,” he added.

“In addition, it can be expected to reignite institutional interest.”

Late last year, Mr Green suggested that Bitcoin and other cryptocurrencies were on the verge of a true global breakout, largely due to ‘FOMO’ (the fear of missing out).

“Adoption is increasing all the time,” he added.

“This is evidenced not only in the financial sector, in which major banks are increasingly looking at blockchain and crypto, but with big names within the tech and retail sectors too.

“I feel that there’s a growing sense amongst institutions that unless they embrace this sector, their competitors could move way out in front and they might find it difficult to catch up. This is especially true as the public – their customers – are increasingly eager to explore the opportunities themselves.

“There is increasing acceptance that cryptocurrencies are inevitably the future of money, and the environment is now right for a sustained climb in prices. 

“I think we could reasonably see the Bitcoin price hitting $7,000 in the next few months.”

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