CEO of deVere Group, serving in the field of financial advisory Nigel Greenshared his forecast on the crypto market. Green gave the optimistic forecast that the bear market in crypto assets will end.
Green believes it’s critical that inflation begins to slow. When central banks start easing monetary policy, according to CEO bitcoin He thinks the prices of (BTC) and other crypto assets will rise.
According to Green, as we reported on Koinfinans.com, after the rate hike cryptocurrency depreciating assets such as the aforementioned may start to rally in April 2023.
“Assets that benefited most from low interest rates were, naturally, those most affected by increases in 2022. These include stocks and other risk assets, particularly in the tech sector, as well as cryptocurrencies.
We expect these are the assets that will experience some of the biggest rallies once the rate hikes end, which will likely be in the second quarter of 2023.
Although not as strong as previous rallies, we will see a more stable and sustained upward trajectory for Bitcoin once the easing begins.”
Arguing that “confidence in the markets is back,” Green added that the current price of Bitcoin is attractive to long-term investors.
“Many serious, long-term investors will use current low valuations as a buying opportunity. The good thing about the increases is that we were able to see the true value of assets as the excitement of cheap money waned. Despite falling 70% from its November 2021 high, Bitcoin remains the best-performing asset class of the past decade.”
Bitcoin is trading at $16,632 at the time of this writing.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.