Laxman Pai, Opalesque Asia: Financial advisory and asset management firm Devere Group has forecasted a bull run and a significant bounce in the price of bitcoin in the 4th quarter of this year.
Nigel Green, founder and CEO of the Financial consultatory and possession monitoring company said in a note that: "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."
Adding weight to his prediction of an imminent market bottom and subsequent overturn of the current state of matters, the deVere founder noted that tracking platforms show that 'insiders' are increasingly buying into digital assets.
Poor asset performance equals good prices to buy at for some, and Green says said insiders are exploiting the currently low valuations to add on their investments in high-quality firms to expand their portfolios over time.
Following a battle to find support over the weekend, Bitcoin ultimately ended the week at $29,900, which was $450 higher than last Sunday.
He said: "Bitcoin investors have reason to be cheerful after the cryptocurrency has snapped the longest weekly downtrend in its history. The price recovery has started, probably much to the chagrin of crypto cynics and Bitcoin bashers. 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."
He continued: "...................... To view our full article Click here
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