Chief of de Vere bullish on Bitcoin

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.