The deVere Group’s Cryptocurrency Launch Comes With Predictions
Not so long ago, we heard about the impending launch of the deVere Group’s cryptocurrency app, deVere Crypto. The launch was originally set for “later in 2018,” and since we heard about this back in mid-January, it might have been safe to think the group meant “June or so.” Well, later has apparently come early, and now the launch is live. Plus, the deVere Group offered up some predictions for crypto that will likely make many HODL types feel a lot better, assuming they come to pass.
Even deVere Crypto handles three major currencies: bitcoin itself, Etherium and Litecoin. Though there are plans to add more down the line, the additions will be based on the deVere Group’s internal analyses of these issues, to find out which are sufficiently valuable to add to the block.
Additionally, the deVere Group is projecting a gain for bitcoin that’s “50 to 60 percent” above what’s currently seen, though further volatility is expected thanks to the wide array of competing cryptocurrencies out there. With Ethereum, Ripple, and the like in play, there’s some very real room for competition in the field.
Nigel Green, deVere Group CEO, offered further commentary on the issue of cryptocurrency, noting that these issues have indeed seen a slump in the last few weeks. A major slump, too, with bitcoin losing better than half its record-high values, achieved and lost only recently.
But Green, like several others like James Altucher, suggests that the “everybody” phase of the crypto bubble—if it even ultimately turns out to be a bubble at all—likely hasn’t happened yet. With governments increasingly aware of cryptocurrencies and making regulatory moves accordingly, the downward pressure is clearly felt. As more and more users become aware of cryptocurrency and look to get in, that’s likely to drive prices upward in the comparatively near term.
Green even makes comparisons to the VHS v. Betamax—or perhaps Blu-ray v. HD-DVD—format wars of home video. His projections about bitcoin et al aren’t exactly out of line, though some of these may come from the fact his company is offering a crypto trading app. Still, only time will tell, and users now have a new way to handle some crypto.