With the emergence of a new variant of Covid-19 called Omicron in South Africa, decreases were observed in Bitcoin and cryptocurrencies.
After a decrease of approximately 15%, the cryptocurrency market started to recover. After the correction, Bitcoin continues to trade at around $57,200.
Saying that the decrease is due to the new variant, analysts state that they think it is the right time to buy Bitcoin. Analysts said that even if there are decreases in the short-term, Bitcoin will continue to rise in the long-term.
Nigel Green, the founder and CEO of DeVere Group, which has $12 billion under his management, also shared his thoughts on the leading cryptocurrency Bitcoin in a recent interview.
Famous investor Green stated in his interview that Bitcoin will be unstoppable within the next year.
“Bitcoin cannot be stopped. I expect its price to double in the next 12 months. Of course, this drop in cryptocurrencies, which is the inevitable future of money, will be used by smart investors as a big buying opportunity.”
Omicron Temporary and Opportunity to Buy!
Saying that the declines are a sudden reaction from the crypto money market, the famous CEO stated that the markets will recover quickly.
Nigel Green also underlined that Bitcoin is increasingly seen as a safe haven among investors, arguing that the effects of the Omicron variant will be short-lived and that Bitcoin will show an unexpected performance next year.
Stating that in his previous predictions, Bitcoin could reach $65,000 by making ATH by the end of 2021, or even exceed this level, Green added that this forecast is conservative now, and that if the current momentum in prices continues, BTC can reach an unprecedented $100,000. .
Touching on inflation, Green said that inflation will continue to rise and investors will focus on it.
“Bitcoin has historically been successful by shielding its investors from inflation during periods of high inflation due to its limited supply. Bitcoin is programmed to have no more than 21 million coins in circulation.
For this reason, it is estimated that it will always protect against inflation. If it protects against inflation, more institutional investors will come to Bitcoin and pricing will continue.”
*Not investment advice.