Outlook On Bitcoin And Altcoin Market Is Updated | CryptoGazette
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As you probably know by now, there have been a lot of price corrections that took place in the past weeks.
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $48,847.
New outlook on Bitcoin and altcoin markets
The chief executive of financial services giant DeVere Group recently said that the crypto market will recover due to deep-pocketed investors buying the dip.
After accurately predicting the latest macro market correction, CEO Nigel Green is telling Business Leader in a new interview that he foresees Bitcoin (BTC) reaching $100,000 sometime during the first half of 2022.
“Despite the recent turbulence, the trajectory of Bitcoin and other major cryptos is upwards. I would not be surprised to see Bitcoin reach $100,000 in the first half of 2022.”
According to him, whales and blue-chip investors aren’t worried about market dips because they allow them to purchase more crypto and focus on long-term gains.
“Whales, which are individuals or entities that hold enough cryptocurrency to have the potential to move currency valuations, shrug off concerns about dips, use them as buying opportunities, and focus on long-term trends. This approach alone has the power to push crypto values up.”
He also said that like a lot of serious crypto investors, he is embracing the short-term volatility for long-term gains.
“In our increasingly tech-driven, globalized world, it makes sense to hold digital, borderless, decentralized currencies. In addition, adoption and demand are increasing all the time, whilst at the same time, supply is decreasing.”
Retail BTC traders make an impressive move
The other day, we were revealing that despite the massive corrections that we are seeing in the crypto space these days, various signs are showing us the fact that Bitcoin is definitely still bullish.
Check out what Willy Woo had to say recently about something that retail traders are doing at the moment.
Keep your eyes on the crypto market.
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