Dever CEO Explains Why He’s Buying Bitcoin Dip – Markets and Prices Bitcoin News

The CEO of Dever Group, a financial advisory and asset management firm, shared several reasons why he is buying the bitcoin dip. “Despite the recent turmoil, I believe the direction of bitcoin and other major cryptos is up,” he said.

Nigel Green explains why he is buying more bitcoins

Nigel Green, CEO of financial advisory and asset management firm Dever Group, has confirmed that he is buying the bitcoin dip. In a blog post published this week, the executive outlined various reasons why bitcoin is overbought amid a selloff in the crypto market.

“The continued strength of the US dollar, which is based on the policy tightening by the Federal Reserve, is being felt by bitcoin and all other risk assets, as we have seen recently in the decline of international stock markets,” he began.

But like many serious crypto investors, I’m buying the dip. I accept this short-term volatility for long-term gains.

Green went on to share why he is buying more BTC. “One of the reasons I’m ‘whale-watching’,” he explained, “is that Wallace is a huge crypto-holding investor, with enough assets to move currency prices.”

He continued: “In recent weeks, whales have been sold, which has caused the market price to drop as others panic and panic.” This then allows the big players to buy back more, and cheaper, down the track.

Dever’s CEO commented:

I have a feeling they are getting ready to make their moves to buy and fill their holdings in the coming weeks.

“Also, there is another visible whale activity. The number of new wallets holding between 10,000 and 100,000 bitcoins has increased by 103 in the last 30 days,” he pointed out.

Greene cited crypto fundamentals as reasons to buy, stressing that the price decline is a “key buying opportunity.”

He added: “Like many major corporations, financial institutions, governments, renowned universities and household name investing legends, I am convinced that digital currencies are the inevitable future of money.

“In our increasingly technology-driven, globalized world, it makes sense to have digital, borderless, decentralized currencies,” Green opined. Furthermore, adoption and demand are constantly increasing while at the same time supply is decreasing.

The executive director of Dever Group concluded

Despite the recent turmoil, I believe the direction of bitcoin and other major cryptos is up. That’s why I see the current dip as a discount.

Green has made some surprising predictions about the value of Bitcoin on several occasions. He predicted a bull run and a “significant rally” for BTC in June.

Do you agree with Dever CEO Nigel Green? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, discovered Bitcoin in 2011 and has been an evangelist ever since. His interests are in Bitcoin security, open source systems, network effects and the intersection between economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons

DisclaimerThis article is for informational purposes only. It is not an offer or solicitation to buy or sell, or a recommendation or endorsement of any products, services or companies. does not provide investment, tax, legal or accounting advice. Neither the Company nor the Author shall be liable, directly or indirectly, for any damages or losses arising out of the use of or reliance on any content, goods or services referred to in this paragraph.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *