Nigel Green – head of the global financial expert advice provider deVere Group – believed that $10,000 will be the new normal lowest point for Bitcoin (BTC) from now on, in terms of pricing.
As reported by the LondonLovesBusiness on August 27, Green claimed as below:
“Looking at its performance this year, I believe that the new normal bottom price for Bitcoin is $10,000. It bounces at this price. If it fluctuates below this level, it shoots back up again. We have seen this in action on Monday when Bitcoin hit $10,500 in a matter of minutes.”
At the start of August, the deVere Group CEO further predicted that Bitcoin price can potentially hit the $15,000 benchmark.
Green has mentioned a few underlying factors that led him to the conclusion, which consist of the ongoing United States-China trade war, the Brexit incident, advancements in the technical systems, the reduction of Bitcoin in 2020 and finally, the development of awareness of the general audience.
Green further shared his belief in investors turning to a digital coin that is neutral in terms of politics, such as Bitcoin, which appears to have the most minimal amount of correlation with the traditional markets.
Nelson Minier – CEO of over-the-counter (OTC) sales for the Kraken Nelson crypto exchange platform – also shared the same perspective with Green, regarding his above-mentioned belief. He particularly added that despite Bitcoin still have a long way to go to be a safe haven, numerous investors have treated it like one.
“There is increasing global acceptance that cryptocurrencies, such as Bitcoin, are not only the future of money, but increasingly the money of today. This will be reflected in Bitcoin’s new normal bottom price of $10,000.”