Chief of de Vere bullish on Bitcoin

August 29, 2018
Chris Wheal

Nigel Green, the founder and chief executive of deVere Group, has taken a bullish stance on Bitcoin, insisting the downward trend of Bitcoin price is over.

The boss of the international financial consultancy giant, told Bitcoin News: “Despite what the doom mongers would want you to believe, the recent selloff was only ever going to be temporary and prices were bound to rise again relatively quickly — as they are now doing.”

BTC broke above the $7,000 range this week for the first time since August 7

Green added: Previous to this selloff, in recent weeks bitcoin had experienced a pretty impressive rally, peaking at around $8,300. As such, what happened over the last [two weeks] was simply a standard crypto market correction.”

His comments were certainly supported in today’s price movements BTC broke above the $7,000 range for the first time since August 7, compared to a low of below $6,000 two weeks ago. By mid-afternoon on Wednesday Bitcoin was steadying around the $7,109 figure.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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