Nigel Green: “by the end of the month Bitcoin will exceed $50 000» – Bits Media

Nigel Green, CEO of the deVere Group consulting company, predicts, that by the end of the month the BTC rate may reach $50 000. The catalyst for this growth will be the Russian-Ukrainian conflict.

Last week the Bitcoin rate dropped to $34 300, however for the last in a week he recovered by about 16%, and now Bitcoin is trading higher $44 000 for a coin. Nigel Green (Nigel Green) noted, that the military conflict between Russia and Ukraine caused significant financial turmoil, therefore private individuals, businesses and even government agencies around the world are looking for alternatives to traditional assets. Bitcoin is becoming more and more attractive for investment. Bitcoin futures ETFs could benefit from this, and exchange-traded funds, linked to cryptocurrencies.

"Now I see no reason, where Bitcoin's price momentum may fluctuate. I think, that by the end of the month BTC will reach the $50 000. But it's too early to guess, when it reaches its November all-time high", - said the CEO of deVere Group.

People are afraid, that many banks will close, ATMs will run out of money, and the international payment system SWIFT is already “turning into a weapon”. Green considers this a strong argument in favor of Bitcoin - a viable, decentralized and tamper-proof network. More and more institutional investors are becoming participants in the cryptocurrency market, Confidence in Bitcoin is growing, as well as trading volumes, and the volatility of the first cryptocurrency is gradually decreasing - all this is good news for investors, concluded Green.

Last year, deVere's founder suggested, that in the next five years, ether may change places with bitcoin, overtaking it in market capitalization. The main prerequisite for this will be the network’s transition to the Proof-of-Stake algorithm (PoS).