Nigel Green: Bitcoin expects an uptrend in the coming months

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The CEO of the consulting company deVere Group believes that as soon as the crypto market gets rid of casual investors, Bitcoin will begin to grow rapidly.

Nigel Green, writing on the Co-op blog, said he is bullish on digital assets in the long term.

“The last months have been difficult for the market,which, like other risk asset markets including equities, has been hit by a wave of gloomy investor sentiment. Sentiment was based on fears due to the global economic slowdown, inflation and geopolitical factors. The cryptocurrency is not yet out of the woods, there may be a small and final cleanup ahead of a significant price jump by the end of the year,” the businessman said.

According to deVere Group CEO, Bitcoin should excite buyers as it is a quality asset with an attractive valuation:

“People are starting to understand that the globalThe economy continues to move against the wind, but some quality assets, such as Bitcoin, are quite affordable. Confidence is returning to the cryptocurrency market. People appreciate the inherent value in Bitcoin and are starting to buy it, taking advantage of the current low price.”

Green hopes for a relative decline in Bitcoin volatility over the next few months:

"Since the investment fever of freemoney fades away, we can see the real value of the assets. Although it's down 50% from the hype and November high, Bitcoin remains the best-performing asset class of the decade."

Greene added that he expects a less volatile, more sustainable uptrend for Bitcoin over the next few months.

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Former BitMEX CEO Arthur Hayes(Arthur Hayes) has a similar opinion. He stated that Bitcoin will bottom out and quickly recover as the Fed prints trillions of dollars again.