Nigel Green: “panic is the best time to buy BTC” – Bits Media

deVere Group CEO Nigel Green believes, that investors should buy Bitcoin right now, during correction, since in a year its rate will double.

Bitcoin corrected below $54,000 last week, thus reacting to the decline financial markets, including stock indices and commodity futures. The situation is caused by the emergence of a new strain of coronavirus Omicron in South Africa, which is rapidly spreading in different parts of the world.

Nigel Green, CEO of the deVere Group consulting company (Nigel Green)
considers, that these events gave rise to a new wave of uncertainty and panic on the stock exchanges, this should be regarded as an excellent opportunity to buy Bitcoin.

“Bitcoin cannot be stopped, and I'm sure, what is during 12 months its rate will double. Strong investor interest in cryptocurrencies is the inevitable future of the monetary system. Savvy investors will take advantage of any opportunity to buy Bitcoin at a low entry point.", - Green said.

According to Green, Bitcoin showed a sharp reaction to the decline in the stock market. However, this fall in the Bitcoin price does not have serious reasons., and in the near future Bitcoin will continue to grow again. Green explained, that many retail and institutional investors consider Bitcoin an effective store of value. For example, Tudor BVI hedge fund manager Paul Tudor Jones (Paul Tudor Jones) sure, that Bitcoin has many advantages compared to gold. Green also suggested, that concerns about Omicron's spread will be short-lived, as investors focus on rising inflation.

“Inflation will cause a sharp demand for Bitcoin, therefore, the cryptocurrency market will receive investments from institutional investors. In turn, Confidence in Bitcoin will grow, like his course", - Green suggested.

On the other side, don't forget, that in recent years Bitcoin has begun to strongly correlate with movements in stock indices (first of all S&P500) and commodity futures. This is due to the entry of institutional investors into the market, who buy and sell cryptocurrencies along with traditional assets. This means that movements in financial markets have a stronger impact on Bitcoin., than before.

In August, Greene said, that if the Ethereum 2.0 update is successfully implemented, Bitcoin may give way to Ethereum in first place in terms of capitalization of the cryptocurrency market.