{"id":125725,"date":"2018-04-25T08:29:24","date_gmt":"2018-04-25T12:29:24","guid":{"rendered":"http:\/\/countingpips.com\/?p=125725"},"modified":"2018-06-01T15:39:50","modified_gmt":"2018-06-01T15:39:50","slug":"devere-ceo-cryptocurrencies-set-for-another-surge-in-prices-heres-why","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/devere-ceo-cryptocurrencies-set-for-another-surge-in-prices-heres-why\/","title":{"rendered":"deVere CEO: Cryptocurrencies set for another surge in prices. Here\u2019s why"},"content":{"rendered":"
April 25, 2018<\/div>
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By George Prior<\/em><\/strong><\/p>\n

Current market activity indicates that cryptocurrencies are set for \u201canother considerable surge in prices gains\u201d in the near future and Ethereum\u2019s price could reach $2,500 by the end of the year – but investors should\u00a0exercise caution.<\/p>\n

This forecast from Nigel Green, the founder and CEO of deVere Group, one of the world\u2019s largest independent financial services organizations, comes after a strong few days in the cryptocurrency markets.<\/p>\n

Mr Green, whose firm launched the cryptocurrency exchange app, deVere Crypto, comments: \u201cMost major cryptocurrencies have been posting big gains over the last few days.<\/p>\n

\u201cCurrent market activity indicates that the major cryptocurrencies are set for another considerable surge in prices gains in the near future.\u201d<\/p>\n

He continues: \u201cWhat\u2019s fuelling this current rally in crypto prices? There are several key motivators.<\/p>

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\u201cThese include the growing integration with and adoption by major banks and other financial institutions.<\/p>\n

\u201cIndeed, 20 per cent of all financial firms, ranging from hedge funds to\u00a0banking giants, are now considering trading digital currencies\u00a0in the 12 months, according to a new\u00a0Thomson Reuters<\/em>\u00a0survey published this week.<\/p>\n

\u201cAnother key reason for the rally is that there\u2019s a growing awareness of the need and demand for digital, global currencies in a digitalized, globalized world.<\/p>\n

\u201cThe upward trend is also being triggered by regulation, which most experts now believe is inevitable. This will give investors even more protection and long-term confidence in the market.\u201d<\/p>\n

The deVere CEO believes that despite Bitcoin taking the headlines, Ethereum could be the real story here.<\/p>\n

He notes: \u201cIt\u2019s interesting to note that even with an impressive one-week jump of 11.3 per cent, Bitcoin – the world\u2019s largest by market capitalization \u2013 is the worst performer amongst the\u00a0biggest cryptocurrencies.<\/p>\n

\u201cThe price of Ethereum is predicted to increase significantly this year, and could hit $2,500 by the end of 2018 with a further increase by 2019 and 2020.<\/p>\n

\u201cThis general upswing will be fuelled by three mains drivers.\u00a0 First, more and more platforms are using Ethereum as a means of trading.\u00a0 Second, the increased use of smart contracts by Ethereum. And third, the decentralisation of cloud computing.\u201d<\/p>\n

Mr Green goes on to say: \u201cEthereum can be expected to solidify its position as the second most valuable and used cryptocurrency token in the world. This consistency of the Ethereum token\u00a0will appreciate well into the future. As entrepreneurs, venture capitalists, bankers and financial houses are looking for stability and safer trading conditions, and Ethereum is offering that security.\u201d<\/p>\n

Mr Green concludes: \u201cWe\u2019re certainly entering crypto bull territory, with many retail and institutional investors now finding that cryptocurrencies can no longer ignore the opportunities.<\/p>\n

\u201cHowever, cryptocurrency markets remain volatile. \u00a0Caution should be exercised and professional advice sought.\u201d<\/p>\n

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deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n

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By George Prior Current market activity indicates that cryptocurrencies are set for \u201canother considerable surge in prices gains\u201d in the near future and Ethereum\u2019s price could reach $2,500 by the end of the year – but investors should\u00a0exercise caution. This forecast from Nigel Green, the founder and CEO of deVere Group, one of the world\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-125725","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=125725"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125725\/revisions"}],"predecessor-version":[{"id":125726,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125725\/revisions\/125726"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=125725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=125725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=125725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}