- The group named Devere, who is having a big boss who was assumed to be a big buyer of Bitcoin. Finally, confirmed his purchase through his blog post published recently.
- The post clearly stated that he is buying the dips as they are in the bear market rates.
These not so logical purchases are explained by Nigel Green, the chief executive officer of Devere Group, he is in a financial advisory and asset management firm.
Bitcoin is trading at $21,640, up 9.4% in the last seven days, figures from Coingecko show, Sunday. As stated in the writing.
The explanation by Nigel says that he is buying Bitcoin on the dip because the CEO is affirmative about the long run profits which can surely be earned as the progression will be shown by the cryptocurrency market.
Bitcoin must be held in such a tech-driven, globalizing world, “it makes sense to hold digital, borderless, decentralized currencies,” quoted by the CEO, the Bitcoin is cited as one of the most potentially able assets in his additional text.
The recent activities of Crypto had him optimistic about Bitcoin, said Green. According to him, Bitcoin may re-enter the market after a period of following sale.
The current strength of the U.S. dollar is actually a result of The U.S. Federal Reserve’s policy tightening is one of the other reasons why he is taking advantage of Bitcoin’s reduced price.
The prediction of CEO
A Bitcoin Bull Run might be a scene, this is being predicted by the CEO.
Like many other times, Green has already issued bullish price forecasts for bitcoin. He predicted a bull run and “significant bounce” for the cryptocurrency in June of this year.
“Like many other serious cryptocurrency investors, I am buying the dip. I’m embracing this short-term volatility for longer-term gains,”
The CEO of Devere justifies by saying that numerous investors, called as “whales,” have been pulling down the market by selling recently. Also presenting an opportunity to the other whales to buy the same at a lower price.
“Market analysts say Bitcoin’s negative price action could be attributed to macroeconomic conditions in the United States, the ongoing Russia-Ukraine conflict, soaring inflation, and rising interest rates.”
Though, Green clears it out that he is totally okay with short-term volatility in return for long-term gains, as an investor.
The current rates are basically a discount over the Bitcoin and many other top cryptocurrencies.
Also, the number of Bitcoin whale addresses has increased over the recent months. Moreover, these dip prices have a number of upside potential in the upcoming future. Stated the Devere CEO.