Nigel Green, the CEO and founder of financial consultancy firm deVere Group, says that the new normal bottom for Bitcoin (BTC) price is $10,000.
BTC price holding $10K level for 3 months
London business news outlet LondonLovesBusiness reported on Aug. 27 that Green said:
Earlier this month Green also noted that “Bitcoin can be expected to imminently reach $15,000.”
Global economic uncertainty among the reasons
The executive cited a few reasons for his prediction. Namely, the United States-China trade war, Brexit, technical network improvements, the 2020 Bitcoin halving and public awareness growth. He believes that investors will seek shelter in politically-neutral cryptocurrency like Bitcoin as it is showing to be one of the least correlated assets to the traditional markets.
This last belief is in line with what head of over-the-counter (OTC) sales at cryptocurrency exchange Kraken Nelson Minier recently said. More precisely, he noted that while Bitcoin is not yet a safe haven, some investors are already using it like one. He concludes: