An investment expert says that despite the ongoing conflict between Russia and Ukraine, bitcoin could reach $ 50,000 by the end of March. However, he believes that at the moment it is not possible to comment on setting a new historical record.
According to CryptoGlobe, Nigel Green, CEO of deVere Investment Group, estimates that the price of bitcoin could reach $ 50,000 by the end of March, despite the war between Ukraine and Russia.
Commenting on the current acceleration in the price of bitcoin, Green said that even if the price of other risky assets such as stocks affected by the Russia-Ukraine dispute declines, the price of this digital currency will continue to rise.
As the current situation shows, I find no reason to reduce price acceleration. I think we can expect bitcoin to reach $ 50,000 by the end of this month.
Green thinks it’s too early to say whether Bitcoin can survive the $ 68,000 record set in November after crossing the $ 50,000 mark. According to the analyst, the conflict between Russia and Ukraine has caused “significant financial turmoil” and government agencies, individuals and companies are looking for alternatives to the traditional financial system.
He went on to say that in Ukraine, when ATMs run out and banks close, there is an opportunity for people to use their personal savings to pay for the war. Furthermore, as Western governments use the international banking system SWIFT as a tool to put pressure on Russia, “the way will be paved for a growth-oriented, decentralized, borderless, counter-manipulative and non-confiscated monetary system.” He mentioned that he meant this. bitcoin system.
The more organizational investors enter the area, the greater its credibility, the greater the volume of trade and the lower its volatility. All this is good news for ordinary investors.
In addition, Green said last year that he believes Atrium will surpass bitcoin in “five years” because he believes Atrium is more in demand.
Mark Mobius, an experienced billionaire and co-founder of Mobius Capital Partners, recently commented on the rise in bitcoin prices amid Russia’s ongoing invasion of Ukraine, which has led to a sharp decline in stock markets.
Mobius said that the Russians have “a way to preserve the value of their money and wealth” by using bitcoin, and that this may be the reason for the appreciation of this digital currency in the last few days. Sanctions imposed on Russian institutions, including Russian banks, have led to a significant devaluation of the ruble and even the Ukrainian national currency, the gruna.
The volume of trade of the Ukrainian kuna for digital currency has increased, especially since the beginning of the Russian invasion. Previously, the average trading volume on this exchange was about 45 million gruna per day. However, on the day Russian troops arrived in Ukraine, the stock exchange traded for 150 million hryvnias, or about $ 5 million.
Investment expert’s publication: Bitcoin could reach $ 50,000 by the end of March first appeared in digital currency.