Nigel Green, CEO of the financial advisory firm deVere Group, has recently showcased optimism in the recovery of Bitcoin (BTC) and crypto markets, predicting that the current bear market is months away from coming to an end.
According to Green in a new article on deVere Group’s official website, Bitcoin and other digital assets will start to see recovery once inflation starts to slow down and the central banks begin relaxing monetary policy.
Green further noted that the assets, including cryptocurrencies, which started to lose value following the rate hikes could enter a new bullish phase in April 2023.
deVere Group CEO also stated that confidence is creeping back into the markets and the current price of Bitcoin (BTC) is also attractive to long-term investors.
Nigel Green noted:
“Assets that most benefitted from low-interest rates were, naturally, hit hardest in 2022 by the hikes. These include stocks, especially in the tech sector, and cryptocurrencies, among other risk assets.
“We expect as the program unwinds, which is likely to be in the second quarter of 2023, these will be the assets that will experience some of the biggest rallies.
“Although the high-octane rush of previous rallies is unlikely, instead we will see a steadier, continued upward trajectory for Bitcoin when the unwind kicks off…
“Many serious, long-term investors will be using the current lower valuations as a buying opportunity…
“One good thing about the hikes has been that as the sugar rush of free money faded away, we could see the real value of assets.
“Despite coming down 70% from its hype and heat-fuelled November 2021 high, Bitcoin remains the best-performing asset class of the decade.”