Bobos & Wojaks

Get rich or die tryin

According to deVere Group CEO, The Price Of Bitcoin Could Reach $50,000 By The End Of March

bitcoin-crypto-blockchain

Because of the current war between Ukraine and Russia, Nigel Green, CEO of independent financial expert deVere Group, believes the flagship cryptocurrency bitcoin ($BTC) might hit $50,000 by the end of March.

According to ETF Trends, in reaction to BTC’s current price trend, Green remarked that he expects the crypto currency’s price to grow even while other risk assets, such as stocks, decline owing to the economic impact of the conflict. Green was quoted as saying:

“As it currently stands, I can see no reason why this price momentum should falter.  I think we can expect to see Bitcoin hit $50,000 by the end of this month.”

“It’s still too early to say if it will then go on to achieve all-time highs of $68,000 from November 2021,” Green remarked. The conflict between Russia and Ukraine, according to the expert, has resulted in “substantial financial turmoil,” with government agencies, individuals, and enterprises seeking alternatives to the traditional banking system.

The CEO went on to add that as ATMs run out of money and banks close, people’s personal savings could be stolen and used to fund the war. Furthermore, the international payment system SWIFT is being weaponized, with the case made for a “viable, decentralized, borderless, tamper-proof, non-confiscatable monetary system,” meaning BTC.

deveregroup-bitcoin-crypto

Green continued, “As more and more institutional investors take control of the sector, credibility increases, trading volumes go up and volatility goes down – this is all good news for everyday investors.”

Notably, the CEO claimed last year that he believes Ethereum’s value will surpass that of the flagship cryptocurrency bitcoin “within five years,” owing to ETH’s superior utility and demand.

Mobius Capital Partners founder and billionaire veteran investor Mark Mobius recently discussed Bitcoin’s recent price increase in the middle of Russia’s ongoing invasion of Ukraine, which has rattled equity markets.

Mobius claimed that Russians had a “way of getting their money out, getting their wealth out” could be the basis for BTC’s recent price spike. Sanctions put on Russian institutions, particularly banks, caused the ruble and even the Ukrainian hryvnia to plummet in value.

Kuna, a Ukrainian bitcoin exchange, saw its trade volume skyrocket once Russia launched its invasion. The exchange’s daily trading volume averaged roughly 45 million Ukrainian hryvnias. On the day Russian forces entered Ukraine, the country’s trading volume skyrocketed to 150 million UAH, or almost $5 million.