Bitcoin might get another boost

bitcoin/Nigel-Green/deVere/deVere-Group/

14 June 2019
| By Oksana Patron |
image
image
expand image

Bitcoin might be on the verge of its next bull run after a period of low volatility, Nigel Green, a chief executive of deVere Group, said.

According to him, the world’s largest cryptocurrency had been stuck in no-man’s land for over a week, oscillating within a $600 range before breaking through an $8,000 barrier against the US dollar earlier this week.

“This could indicate that bitcoin is on the verge of the next bull run. Cyrpto history teaches us that periods of low volatility come directly before extended crypto bull runs,” he said.

Green added that, along with bitcoin, the wider crypto markets and other cryptocurrencies such as Ethereum, XRP and Litecoin would see a boost.

“Although volatility will return, as it does in all financial markets, I think we’re experiencing a fundamental shift and, overall, the crypto market will have less turbulent bouts in the future. This is essential for the cryptocurrency sector long-term as it will further encourage mass adoption and institutional investment,” Green said.

“Of course, no-one knows for sure when the next crypto run will happen, but current relative low volatility suggest it is imminent. What we do know for sure, however, is the cryptocurrencies are the future of money.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

3 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

3 months 1 week ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

5 months 1 week ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

3 weeks 4 days ago

A former Victorian financial adviser has been sentenced after stealing $4.4 million from clients, family and friends to feed his “raging gambling addiction”....

3 weeks 2 days ago

A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rule...

2 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
5
Plato Global Alpha A
28.83 3 y p.a(%)