Devere Group Predicts a Bull Run and ‘Significant Bounce’ for Bitcoin in Q4 – Markets and Prices Bitcoin News

Devere Group’s CEO, an asset management and financial advisory firm, predicted that bitcoin would see a strong bull run.

Devere’s CEO Predicts a Bull Run in Q4 for Bitcoin

Devere Group is a financial advisory and asset management company that predicts bitcoin prices will rebound in the fourth quarter. Nigel Green, Devere’s founder and CEO, said early last week:

I believe that we’ll soon see a bull run that will lead to a significant bounce in the fourth quarter of the year for the world’s leading digital currency.

The Devere boss explained: “Bitcoin is currently highly correlated to leading global stock markets, such as Wall Street’s S&P500, and I’m confident that the recent market downturn is close to the bottom and a rally is imminent.”

The CEO also added:

A stock market rally will be good for Bitcoin as investors move into more risky assets.

Green said that one of the major factors driving bitcoin’s rally will be that many investors are using BTC to hedge high inflation.

Paul Tudor Jones (hedge fund manager) and Tim Draper (venture capitalist), believe cryptocurrency can be used as a hedge against inflation.

Devere Chief also mentioned that bitcoin was becoming an option to fiat currencies. Bill Miller, a veteran investor explained previously that people are now considering alternative currencies to the U.S. dollars due to the Russia-Ukraine conflict and the subsequent sanctions against Russia.

“The U.S. government started feverishly adding digital dollars to its economy during the pandemic, diluting its value, but adding to the long-term prospects of bitcoin,” Green noted, emphasizing:

Bitcoin is increasingly being seen as an option to the dollar by investors.

Green further said his predicted bitcoin bull run will be “supported by the growing investment from major institutional investors, who bring with them capital, expertise and reputational pull.” An April survey shows that 80% of institutional investors believe crypto will overtake traditional investments, 70% said crypto was a trustworthy investment, and 68% said they are actively recommending this asset class in investment strategies.

The CEO of Devere pointed out, lastly that regulators across the globe are trying to create a crypto regulatory framework. He stated:

The regulation, which I think is necessary, would offer more protection to institutional and retail investors.

Green’s prediction came just days before the weekend market downturn. BTC trades at $27.748.30 as of the writing. In the past 24 hour, it has lost 2.5%, over 7% in seven days and nearly 26% over one year.

How do you feel about Devere CEO Nigel Green’s prediction? Comment below.

Kevin Helms

Kevin, a student of Austrian Economics and a Bitcoin evangelist since 2011, was one of the first to discover Bitcoin. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.