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Alternative Market Briefing

deVere Group: Ripple will convert remaining crypto unbelievers

Tuesday, April 17, 2018

Komfie Manalo, Opalesque Asia:

Financial adviser deVere Group said that ripple would be the main catalyst to ultimately drive potentials of cryptocurrencies, saying that the digital coin is seen to "convert the remaining crypto cynics."

Nigel Green, the founder and CEO of deVere Group, made the prediction as ripple (XRP) experienced a spike last week, adding another $62bn to its market value. The cryptocurrency also broke some key resistance, such as $0.6500 and $0.6600, nudging it towards the important $0.7000 level against the U.S. dollar.

Green, whose firm launched the pioneering crypto exchange app, deVere Crypto, this year, commented, "After the cryptocurrency market somewhat overheated at the end of 2017 - thanks largely to investors piling in, pushing Bitcoin to an all-time high of more than $19,000 - there was a major, natural price correction in the first quarter of this year of most of the major cryptocurrencies.

"But the cryptocurrency market is, once again, now looking already significantly more bullish than it did in Quarter 1."

He added that the latest upward crypto market trajectory can be attributed to the fact that institutional and retail investors are increasingly appreciating the fundamentals, such as the need and demand for digital currencies in a digitalized, tech-driven age.

In addition, there is now huge awareness that blockchain, the technology that ......................

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