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, according to a CCN report.
Green believes that BTC is primed for a bull run to $7,000 later this year: “I’m now calling that the market has bottomed and the so-called crypto winter has come to an end. I believe Bitcoin will now 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.”
Green argues the sudden price growth we have seen this week, (and right across the board, not just in BTC) is driven by both individual and institutional FOMO (Fear of Missing Out) as the inevitability of crypto disruption becomes more apparent: ““This dramatic jump is likely to attract many investors who have been sitting on the sidelines. In addition, it can be expected to reignite institutional interest. I feel that there’s a growing sense amongst institutions that unless they embrace this sector, their competitors could move way out in front and they might find it difficult to catch up. This is especially true as the public — their customers — are increasingly eager to explore the opportunities themselves.”
Green thinks the FOMO “is fear based on what investors see happening, on what they now know and understand to be true.” In other words, they have had to disrupt themselves and get on board with crypto. As CCN says — better late than never!