{"id":137657,"date":"2018-11-20T12:10:34","date_gmt":"2018-11-20T17:10:34","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=137657"},"modified":"2018-11-20T07:11:41","modified_gmt":"2018-11-20T12:11:41","slug":"cryptocurrencies-prices-take-a-hit-heres-why-its-a-buyers-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/11\/cryptocurrencies-prices-take-a-hit-heres-why-its-a-buyers-market\/","title":{"rendered":"Cryptocurrencies prices take a hit \u2013 here\u2019s why it\u2019s a buyers market"},"content":{"rendered":"<div id=\"inves-2767972625\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 20, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><em><strong>By George Prior<\/strong><\/em><\/p>\n<div>Volatility is back in the cryptocurrency market after a relatively long absence \u2013 and investors will use it as a major buying opportunity, affirms the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/div>\n<div><\/div>\n<div>The clear message from deVere Group\u2019s founder and chief executive, Nigel Green, comes as leading cryptocurrencies Bitcoin and Ethereum (ETH) were in the red on Monday.<\/div>\n<div><\/div>\n<div>Bitcoin, the largest digital currency by market cap, has fallen in price by $1,400 in 12 days, going below the $5,000 threshold for the first time since October 2017. \u00a0The bearish sentiment is echoed in a broader decline in the overall crypto market capitalization over the last few days.<\/div>\n<div><\/div>\n<div>Mr Green observes: \u201cJust a few weeks ago crypto traders were airing concerns about the lack of volatility in the crypto market.<\/div>\n<div><\/div>\n<div>\u201cNow volatility is back and many savvy investors will be using this as a major buying opportunity, perhaps the last one of 2018.<\/div>\n<div><\/div>\n<div>\u201cSavvy investors understand that digital currencies are the future of money and, as such, they will be capitalizing on the lower prices in order to build their portfolios and shore-up their positions.\u201d<\/div>\n<div><\/div>\n<div>He continues: \u201cThere are three main drivers for the current bout of volatility.<\/div>\n<div><\/div>\n<div>\u201cFirst, is the uncertainty surrounding the Bitcoin Cash hard fork.\u201d<\/div>\n<div><\/div>\n<div>Last week, a new version of Bitcoin Cash was launched, which was itself a \u2018fork\u2019 from the original Bitcoin blockchain. Bitcoin Cash is now known as Bitcoin ABC and the new fork is called Bitcoin SV.<\/div>\n<div><\/div>\n<div>These forks generate turbulence in the market because investors have to choose which version they will support.<\/div>\n<div><\/div>\n<div>\u201cSecond is the recent scrutiny of the SEC, the U.S. financial regulator. \u00a0However, I have long supported and called for regulation of the crypto sector. \u00a0Indeed, regulation of the digital currencies is now, I believe, inevitable and will in the longer term give investors even more protection, driving confidence and prices in the burgeoning market.<\/div>\n<div><\/div>\n<div>\u201cAnd third is the infamous \u2018herd mentality\u2019 of some investors. Simply, some of the cryptocurrencies are lower because they went lower.<\/div>\n<div><\/div>\n<div>\u201cPrices might fall further over the next few days, but we can expect a long-term upward trajectory for the crypto sector.\u201d<\/div>\n<div><\/div>\n<div>The deVere CEO concludes: \u201cCrypto cynics are using this current wave of volatility to knock digital currencies. \u00a0Whether it is Bitcoin, or any of the current generation of coins, or not, cryptocurrencies are here to stay.<\/div>\n<div><\/div>\n<div>\u201cFinancial traditionalists view cryptocurrencies the way traditional stores used to view online retailers.\u201d<\/div>\n<div><\/div>\n<div>\u201cBut with their hands in the sand they are failing to see that cryptocurrencies have already changed forever the way the world handles money, makes transactions, does business, and manages assets.\u201d<\/div>\n<p><em><strong>About:<\/strong><\/em><\/p>\n<p><em>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<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By George Prior Volatility is back in the cryptocurrency market after a relatively long absence \u2013 and investors will use it as a major buying opportunity, affirms the CEO of one of the world\u2019s largest independent financial advisory organizations. The clear message from deVere Group\u2019s founder and chief executive, Nigel Green, comes as leading cryptocurrencies [&hellip;]<\/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-137657","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137657","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=137657"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137657\/revisions"}],"predecessor-version":[{"id":137658,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137657\/revisions\/137658"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=137657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=137657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=137657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}