![]() Plus, affirms Nigel Green, global financial watchdogs are increasingly looking into establishing a regulatory framework because they are taking crypto more and more seriously as a financial asset and a medium of exchange. He goes on to add the rally will be “supported by the growing investment from major institutional investors, who bring with them capital, expertise and reputational pull.” government started feverishly adding digital dollars to its economy during the pandemic, diluting its value, but adding to the long-term prospects of Bitcoin,” notes the CEO. “In addition, investors are increasingly seeing Bitcoin as an alternative to the dollar. ![]() Also because of its accessibility – as an asset it has value and is accepted by the market – and its durability, as Bitcoin will continue to attract more demand over time. “ Bitcoin will benefit from a stock market rally as investors move back into riskier assets.”Īnother key reason, says Nigel Green, for Bitcoin to have a strong recovery is that investors are using it as a hedge against red-hot inflation as they look to protect their purchasing power by moving out of cash and into store of value investments.īitcoin is regarded as a credible hedge against inflation because of its scarcity – a limited supply of 21 million means that higher demand will push prices up. They’re taking advantage of reasonable valuations to top-up stakes in quality companies in order to create and grow wealth in the longer term. “One good indicator that the bottom is near is that tracking services reveal that ‘insiders’ are on a buying spree. He continues: “ Bitcoin is currently highly correlated to leading global stock markets, such as Wall Street’s S&P500, and I’m confident that the recent market downturn is close to the bottom and a rally is imminent. “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.”
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