Financial services firm deVere Group CEO Nigel Green is predicting the timeframe for the Bitcoin bull run while offering his outlook on three competing smart contract platforms.
Green says that the price of Bitcoin could continue rising until Q2 of 2022 at the very least as concerns over inflation rise.
“This latest data out of the U.S. will only compound global fears about inflation as price pressures run hot around the world…
And it’s one that is likely to last until at least the beginning of the second quarter of 2022 when pressures should start to ease.
Against this backdrop, and amid some peaks and troughs along the way as markets never move in a straight line with traders taking profit, we can expect to see the price of Bitcoin and other major cryptocurrencies continue their skywards trajectory…
Bitcoin is widely regarded as a shield against inflation mainly because of its limited supply, which is not influenced by its price.”
The deVere Group head says that Bitcoin has outdone gold as a hedge against inflation.
“In this inflationary period, Bitcoin has outperformed gold, which has been almost universally hailed as the ultimate inflation hedge – until now.”
Green also says that the appreciation in Bitcoin’s price will positively impact other crypto assets, including Ethereum (ETH), Solana (SOL) and Cardano (ADA).
“Bitcoin’s gravitational pull on other digital assets will show itself again this week, pulling up other major cryptocurrencies as it maintains its own strength.
We can expect those cryptos involved with fintech development, such as Ethereum, Solana and Cardano, to do particularly well.”
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