CEO of consulting firm deVere Group Nigel GreenAccording to , the Russian-Ukrainian conflict can act as a catalyst for Bitcoin to reach $ 50 thousand.
Last week, the Bitcoin price dropped to $34,300, but recovered over 20% over the course of a week and is now trading at over $43,000 per coin.
Nigel Green, Russia and Ukraine He noted that the military conflict between
“The Ukraine-Russia situation has caused significant financial turmoil, and individuals, businesses, and indeed government agencies (not just regionally, but globally) are seeking alternatives to traditional systems.”
bitcoinis becoming more and more attractive for investment. In this direction, Green also thinks that Bitcoin will continue its current rise:
“As it is right now, I see no reason for this price momentum to drop. We can expect Bitcoin to reach $50,000 by the end of this month; It is still too early to say whether it will reach its all-time high of $68,000 from November 2021.”
People are worried that many banks will close, ATMs will run out of money, and SWIFT Fears that the international payment system will already “become a weapon”. Green sees this as a strong argument in favor of Bitcoin, a viable, decentralized and tamper-proof network.
Green concludes that more institutional investors are joining the cryptocurrency market, confidence in Bitcoin is increasing, trading volumes are increasing and the volatility of the first cryptocurrency is gradually decreasing – all this is good news for investors.
“As banks close, ATMs run out of money, personal savings are threatened to pay for the war, and SWIFT, the major international payment system, has become a weapon, among other factors; The case is made clear for a viable, decentralized, borderless, tamper-proof, impregnable monetary system.”
Last year, the founder of deVere, EthereumHe suggested that Bitcoin could replace Bitcoin in the next five years and surpass it in market capitalization. As the main prerequisite for this, he pointed out the transition of the network to the Proof-of-Stake (PoS) algorithm.
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.