Bitcoin continues to withdraw for 5 days. Although the volatile movements in Bitcoin limit the movement of altcoins, we observe that some altcoins have succeeded in a positive divergence from the market.
Financial services firm DeVere Group has shared its expectations for how long the rally in Bitcoin will last.
In the post, based on the statements of the DeVere Group CEO, the rally Until the second quarter of 2022 The following statements were used, indicating that it may continue;
“We predict that the Bitcoin price will continue to soar skyward, at least until the second quarter of 2022 amid ongoing global inflation fears.
Data revealing that inflation has reached its highest level in 31 years in the USA, raised the possibility that the FED will increase interest rates sooner or later.
These latest data from the US will raise global fears about inflation as price pressures around the world increase.
Businesses are raising prices as supply chain bottlenecks and a shortage of skilled workers increase costs. This is a global problem.
This is likely to last until the beginning of the second quarter of 2022, when pressures should start to ease.
As markets never move in a straight line, we can expect the price of Bitcoin and other major cryptocurrencies to continue their skyward trajectory, amid some peaks and troughs along the way.
Bitcoin is seen as a good shield against inflation mainly due to its limited supply.
This shield duty may direct more institutional investors to Bitcoin in the coming period.
We can expect financial technology-focused projects like Ethereum, Solana, and Cardano to outperform.
In this inflationary period, Bitcoin has outperformed gold so far.”
*Not Investment Advice.
