Why The Bitcoin At $100K Discourse Remains Strong Despite Market Crashes
October 04 2021 - 12:00PM
NEWSBTC
Bitcoin no doubt had an eventful ride through the month of
September. The month which usually carries promises of price dips
and crashes, and overall low market momentum maintained its
reputation. This led to a value loss of over 20% in the market,
causing cryptocurrencies to tumble down in the market. For the
majority of the market, it was a matter of holding on long enough
for the month to run out. Now that September is behind us, it is
time to look forward. October has historically been known to
perform in the complete opposite of its predecessor. This is when
assets recover their lost value, and often the start of another
rally that carries through to December. So while price predictions
may have looked like wishful thinking through the bloody month of
September, the new month may offer better trends that will see the
price hit $100K before the year runs out. Factors Moving Bitcoin
Price Green put forward the factors which he believed would drive
bitcoin’s price to its new highs. Laying out five factors, the CEO
explained in clear and concise terms why the price of bitcoin was
set to surge. The first, Green said, was the Federal Reserves’
reluctance to ban cryptocurrencies. Speculations in the crypto
space had been that the U.S. would follow the footsteps of China
and banned cryptocurrencies. But the Federal Reserve had stated
that it had no intention of doing so. Related Reading
| Billionaire Orlando Bravo Reveals He Owns Bitcoin And Why
He’s ‘Very Bullish’ The second factor put forward by the CEO was
the increased interest in the crypto market by institutional
investors. “There is sustained and growing interest from
institutional investors, including Wall Street giants and major
payment companies, who bring with them their capital, expertise,
and reputational influence,” Green explained. The third was the
figures who were influencing the space. Green pointed to prominent
figures like billionaire Elon Musk, Twitter CEO Jack Dorsey, and
ARK Invest CEO Cathie Wood and their message, “crypto is the
inevitable future of money. Technicals were the fourth driver of
the bitcoin price surge. Pointing to previous halvings which have
resulted in the price growing tremendously, Green says to expect
the same amount of growth given that the last halving occurred in
2020, about a year ago. BTC price maintains momentum through the
weekend | Source: BTCUSD on TradingView.com Lastly, the CEO points
to the utility of bitcoin and how it has changed the way money is
viewed and handled. “Cryptocurrencies, of which bitcoin is the most
dominant, have already changed the way the world handles money,
makes transactions does business and managed assets.” deVere CEO
Says $100K Is The Mark deVere CEO Nigel Green has overall been
bullish on the crypto market. Green has been vocal about his
support for Ethereum and how he sees the altcoin taking over
bitcoin in the market. But this does not mean that the CEO is any
less bullish on bitcoin. In fact, Green has once again reiterated
his support for cryptocurrencies with his latest prediction which
puts bitcoin at the $100K mark by the end of the year. Related
Reading | Polygon Founder Says Ethereum Is Set To Replace
Bitcoin As The Global Standard Green recently reneged on his
previous price prediction of $65K for bitcoin at the end of the
year, which the CEO referred to as being “too conservative.” He
maintains that the growing momentum if sustained could see the
price of the digital asset hitting as high as $100K before 2021
runs out. “Even though Bitcoin’s place in the global financial
system is already assured, this would be a truly landmark moment,”
Green explained. The recovery of bitcoin from the crashes which
rocked it in September has increased the CEO’s faith in the pioneer
cryptocurrency. The deVere boss believes that this current recovery
trend will send the asset surpassing all of its previous all-time
highs and setting new price records. Featured image from Medium,
chart from TradingView.com
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