{"id":154216,"date":"2019-08-26T09:00:50","date_gmt":"2019-08-26T13:00:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=154216"},"modified":"2019-08-26T08:11:51","modified_gmt":"2019-08-26T12:11:51","slug":"bitcoins-new-normal-bottom-is-10000-devere-ceo","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/bitcoins-new-normal-bottom-is-10000-devere-ceo\/","title":{"rendered":"Bitcoin\u2019s new normal bottom is $10,000: deVere CEO"},"content":{"rendered":"
August 26, 2019<\/div>
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By George Prior<\/strong><\/p>\n

Bitcoin\u2019s new normal bottom is $10,000, predicts the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The comment from Nigel Green, the chief executive and founder of deVere Group, the $12bn advisory giant that launched deVere Crypto in early 2018, comes as the world\u2019s largest cryptocurrency has lingered around this mark for several days, before jumping up Monday.<\/p>\n

Mr Green notes: \u201cLooking at its performance this year, I believe that the new normal bottom price for Bitcoin is $10,000.<\/p>\n

\u201cIt bounces at this price. If it fluctuates below this level, it shoots back up again. We have seen this in action on Monday when Bitcoin hit $10,500 in a matter of minutes.\u201d<\/p>\n

Earlier this month, the deVere CEO predicted that Bitcoin could hit $15,000 in the near future. It is a prediction he is doubling down on.<\/p>

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He says: \u201cBitcoin can be expected to imminently reach $15,000 for four main reasons.<\/p>\n

\u201cFirst, geopolitical issues, such as the U.S.-China trade war and Brexit, are intensifying and investors will increase exposure to decentralized, non-sovereign, secure digital currencies, such as Bitcoin, to shield them from the turmoil taking place in traditional markets.<\/p>\n

\u201cSecond, technical network improvements are further improving performance. Bitcoin\u2019s hash rate has smashed through another new all-time high recently and this fuels investor confidence.<\/p>\n

\u201cThird, the 2020 Bitcoin halving will help drive the price skywards.\u00a0 The code for mining Bitcoin halves around every four years and the next one is set for May 2020. When the code halves, miners receive 50 per cent fewer coins every few minutes.\u00a0 History shows that there is typically a considerable Bitcoin surge resulting from halving events.<\/p>\n

\u201cAnd fourth \u2013 and perhaps the most important one \u2013 is that public awareness is consistently growing. Cryptocurrencies, and in particular Bitcoin, are increasingly part of mainstream finance. This is evidenced not only in the financial sector, in which all major banks are increasingly looking at blockchain and crypto, but with big names within the tech and retail sectors too.\u201d<\/p>\n

The deVere CEO concludes: There is increasing global acceptance that cryptocurrencies, such as Bitcoin, are not only the future of money, but increasingly the money of today.\u00a0 This will be reflected in Bitcoin\u2019s new normal bottom price of $10,000.\u201d<\/p>\n

About:<\/strong><\/p>\n

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.<\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Bitcoin\u2019s new normal bottom is $10,000, predicts the CEO of one of the world\u2019s largest independent financial advisory organizations. The comment from Nigel Green, the chief executive and founder of deVere Group, the $12bn advisory giant that launched deVere Crypto in early 2018, comes as the world\u2019s largest cryptocurrency has lingered around […]<\/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-154216","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154216","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=154216"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154216\/revisions"}],"predecessor-version":[{"id":154217,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154216\/revisions\/154217"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=154216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=154216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=154216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}