Invest
Could bitcoin rebound to US$50k this month?
Ongoing geopolitical tensions and institutional investments are tipped to lead to a price surge for the cryptocurrency.
Could bitcoin rebound to US$50k this month?
Ongoing geopolitical tensions and institutional investments are tipped to lead to a price surge for the cryptocurrency.
DeVere group founder and CEO Nigel Green has predicted that bitcoin will surpass US$50,000 by the end of March, following strong price growth in recent days.
Mr Green explained that geopolitical tensions were a key driver of crypto’s rebound as the Russian invasion of Ukraine unleashes financial upheaval and greater interest in alternatives to traditional systems.
“As banks close, ATMs run out of money, threats of personal savings being taken to pay for war, and the major international payments system SWIFT is weaponised, amongst other factors, the case for a viable, decentralised, borderless, tamper-proof, unconfiscatable monetary system has been laid bare,” he said.
“And as alternatives, such as crypto, prove to be credible and workable, the dollar’s Reserve Status could, ultimately, be in jeopardy.”
Additionally, increased interest from institutions is expected to drive up the price of bitcoin, according to Mr Green.
“The appeal of global, digital currencies in our increasingly tech-driven world is, of course, not going unnoticed by institutional investors who include credit unions, banks, large funds such as a mutual or hedge fund, venture capital funds, insurance companies, and pension funds,” Mr Green said.
“As more and more institutional investors take control of the sector, credibility increases, trading volumes go up and volatility goes down – this is all good news for everyday investors.”
While bullish on the outlook for this month, Mr Green remained uncertain about the likelihood of strong price momentum continuing over the longer term.
“It’s still too early to say whether it will then go on to reach the all-time highs of US$68,000 from November 2021,” he said.
“However, it’s not that big a leap from 50k to 68k and the world and the crypto market are moving at an accelerated rate in recent times. It’s certainly not out of the realms of possibility.”
Furthermore, Mr Green tipped that bitcoin would continue to rise in the rankings of the world’s most valuable currencies in the next few months above its current position in 14th place.
RELATED ARTICLES
Cryptocurrency
New survey reveals high crypto adoption in Australia amid housing affordability concerns
A new survey by Protocol Theory, in partnership with cryptocurrency exchange Easy Crypto, has found that nearly 50% of Australians have bought or are considering buying cryptocurrency in the next ...Read more
Cryptocurrency
Investing in digital assets: A new avenue for earning
The digital age has introduced a plethora of new investment opportunities, ranging from cryptocurrencies and blockchain technology to digital art and tokenized assets. For investors in Australia ...Read more
Cryptocurrency
Navigating the crypto landscape: A beginner's guide to investing in Australia
Cryptocurrency has taken the world by storm, offering an innovative platform for digital assets and investments. In Australia, the crypto market has seen substantial growth, attracting both seasoned ...Read more
Cryptocurrency
Cryptocurrency losses mount as hacks and scams continue to plague the industry
The cryptocurrency industry has lost over $400 million to hacks in 2024 so far, with the decentralized finance (DeFi) sector being the most vulnerable, according to research by experts at Smart ...Read more
Cryptocurrency
Institutional investors bolster cryptocurrency allocations amidst growing confidence
A recent study by London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund, has revealed a significant shift in the mindset of institutional investors and wealth ...Read more
Cryptocurrency
Institutional investors set sights on expanding crypto portfolios in the coming year
New research from London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund manager, indicates a significant positive shift in institutional investors' attitudes ...Read more
Cryptocurrency
BingX reports significant growth and innovation in 2023 amidst industry challenges
BingX, a prominent crypto exchange, has disclosed notable achievements in 2023, amidst a backdrop of global economic uncertainty and sector-specific turbulence. The company has managed to double its ...Read more
Cryptocurrency
Altcoin interest skyrockets as Bitcoin and Ethereum boost market optimism, study finds
Interest in altcoins and other digital assets is on the rise, propelled by growing confidence in the performance of Bitcoin and Ethereum, according to a new study conducted by Nickel Digital Asset ...Read more
Cryptocurrency
New survey reveals high crypto adoption in Australia amid housing affordability concerns
A new survey by Protocol Theory, in partnership with cryptocurrency exchange Easy Crypto, has found that nearly 50% of Australians have bought or are considering buying cryptocurrency in the next ...Read more
Cryptocurrency
Investing in digital assets: A new avenue for earning
The digital age has introduced a plethora of new investment opportunities, ranging from cryptocurrencies and blockchain technology to digital art and tokenized assets. For investors in Australia ...Read more
Cryptocurrency
Navigating the crypto landscape: A beginner's guide to investing in Australia
Cryptocurrency has taken the world by storm, offering an innovative platform for digital assets and investments. In Australia, the crypto market has seen substantial growth, attracting both seasoned ...Read more
Cryptocurrency
Cryptocurrency losses mount as hacks and scams continue to plague the industry
The cryptocurrency industry has lost over $400 million to hacks in 2024 so far, with the decentralized finance (DeFi) sector being the most vulnerable, according to research by experts at Smart ...Read more
Cryptocurrency
Institutional investors bolster cryptocurrency allocations amidst growing confidence
A recent study by London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund, has revealed a significant shift in the mindset of institutional investors and wealth ...Read more
Cryptocurrency
Institutional investors set sights on expanding crypto portfolios in the coming year
New research from London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund manager, indicates a significant positive shift in institutional investors' attitudes ...Read more
Cryptocurrency
BingX reports significant growth and innovation in 2023 amidst industry challenges
BingX, a prominent crypto exchange, has disclosed notable achievements in 2023, amidst a backdrop of global economic uncertainty and sector-specific turbulence. The company has managed to double its ...Read more
Cryptocurrency
Altcoin interest skyrockets as Bitcoin and Ethereum boost market optimism, study finds
Interest in altcoins and other digital assets is on the rise, propelled by growing confidence in the performance of Bitcoin and Ethereum, according to a new study conducted by Nickel Digital Asset ...Read more
