A Cryptocurrency Price Jump May Be Ahead, Says deVere Group CEO
Calling the cryptocurrency market “volatile” is an understatement of such staggering hubris that it’s on par with “The Sun: It’s Hot There.” While there have been quite a few ups and downs—really more downs than ups in the last few months—there are some signs that crypto could be on tap for big gains. At least, that’s what the deVere Group has to say about it, as it recently filled us in.
Naturally, the prediction comes from Nigel Green, deVere Group CEO, who has had a lot to say about crypto lately. He’s even putting some numbers out, suggesting that Ethereum—which Green has long believed will be the future of cryptocurrency—could hit $2,500 a coin by the end of 2018. Green’s predictions followed several days of gains in the overall field, and Green believes that there’s “…another considerable surge in prices gains” coming fairly soon.
Green isn’t just talking, either; he’s got some supports for this theory. The first is a growing willingness on the part of major banks to take cryptocurrency seriously. With a Thomson Reuters survey suggesting that 20 percent of all financial firms are considering trading cryptocurrency, that’s a major impetus to get behind the market. Additionally, the major advantage of cryptocurrency—its ability to function globally—is also being recognized, and that’s driving interest along with price gains.
Finally, Green points to one other major point: increased regulation. While this might ordinarily be seen as a drag on a market, increased regulation actually lends credibility to a market, especially one that previously was seen as the province of criminals and scam artists.
Green’s evidence is, let’s face it, sound. After all, we’re talking about a market that’s picked up a lot of legitimacy lately, and some clear interest on the trading floor. If traders get involved, and cash goes into cryptocurrency markets on the institutional level, that could be an explosion in the making. Of course, it also assumes a lot of things go just right, but if things go as Green projects, the advance will follow.
Only time will tell if we see the big gains here, but in the end, there’s a lot of people who bought bitcoin at $19,000 who’d love to see such gains.