Bitcoin is primed for $ 7,000 later this year, says a major global asset management and financial advisory company in comments early Tuesday morning.
DeVere: Crypto Winter is Over & Bitcoin Will Boom
Nigel Green , founder and chief executive of DeVere Group, a $ 10 billion financial advisory and wealth management firm for high net worth individuals, says crypto winter is over:
"I'm now calling that the market has bottomed and the so-called crypto winter has come to an end. I believe Bitcoin will move higher over the next few weeks and months, making steady gains for investors. As the largest cryptocurrency by market cap, this will have a positive impact on prices in the wider crypto sector. ”
DeVere Group's bitcoin price target for later this year is $ 7,000, and Green argues the price growth is driven by both individual and institutional FOMO (Fear of Missing Out) as the inevitability of crypto disruption becomes more apparent: 1
“ I feel that there is growing sense among institutions that unless they embrace this sector, their competitors could move out in front and they might find it difficult to catch up . This is especially true of the public – their customers are increasingly eager to explore the opportunities themselves.
FOMO: A Good Reason to Be Afraid?
Just as greed for the right things – and for the right reasons can be good – fear of the right things, for the right reasons, can be smart.
The fear of the unknown, of what one can see, of what one doesn't understand; fear that comes from anxiety, blindness, and paralysis; the child of fear that leads business people to nothing while their livelihood is being disrupted: that is useless fear.
But the child of fear of missing out that refers to is fear based on what investors see happening, on what they now know and understand to be true (better than never): That if they don't disrupt someone else's will. That is useful fear
Because the finance industry is not going to be disrupted in the near future.
It has been disrupted irrevocably.
The Crypto whales are starting to splash
Big Money Is On The Move
It is apparent today that fear is spurring smart people with a lot of money on the line to take action to join the technological revolution that they cannot beat.
DeVere Group projected a 40% rise in the market value of bitcoin this year just as bitcoin's price spiked 20% in a few hours. The sudden boom was driven by a well-coordinated whale of an anonymous order for $ 100 million worth of bitcoin.