22.3 C
New York
Friday, May 24, 2024

The expert told when the bearish cycle on the crypto market will end

The head of the deVere Group financial consulting company, Nigel Green , believes that the “bearish” cycle in the cryptocurrency market will end in a few months.

According to the expert, the value of Bitcoin (BTC) and other cryptocurrencies will increase as soon as inflation begins to decrease and central banks begin to ease monetary policy.

According to Green, the crypto market, which has depreciated since the rate hike, could start to grow as early as April 2023.

“The assets that have benefited the most from low interest rates are naturally the most affected by rate hikes in 2022. These include stocks, especially in the technology sector, and cryptocurrencies, among other risky assets. We expect these risky assets to experience some of the biggest rallies as the stimulus winds down, most likely in the second quarter of 2023. However, the high level of excitement that was inherent in the previous rally is unlikely, instead we will see a more stable, continuous upward trajectory for Bitcoin when the rate reduction begins,” says the expert.

Arguing that “confidence is returning to the markets,” Green noted that Bitcoin’s current price is attractive to long-term investors.

“Many serious, long-term investors will use the current low cryptocurrency prices as a buying opportunity… Despite Bitcoin being down 70% from its hyped high in November 2021, Bitcoin remains the best-performing asset class of the decade.” — he noted.

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.