November 20, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas releases market commentary from deVere CEO, Nigel Green.
Bitcoin has hit yet another all-time high, surging past $94,000 on Wednesday, with the CEO of one of the world’s largest independent financial advisory, asset management and fintech organizations, saying it could hit $120,000 by the end of March 2025.
deVere Group’s Nigel Green predicted over a month ago that Bitcoin would hit $100,000 following Donald Trump’s re-election and his upcoming inauguration as the 47th President of the United States. Now, with Bitcoin’s unprecedented surge, Green has raised his expectations even higher.
“The $100,000 milestone, which once seemed bold, now looks conservative,” he says. “I believe Bitcoin could reach $120,000 in the first quarter of 2025 as the rally gains further traction.”
This new projection comes as Bitcoin cements its reputation as a safe-haven asset amid global economic uncertainties.
President-elect Trump has positioned himself as the “crypto candidate,” advocating for a regulatory environment that promotes cryptocurrency adoption and innovation. His administration is widely expected to roll out policies that could further catalyze the sector’s growth.
Bitcoin’s recent rally can be attributed to a combination of factors. First, the political alignment of a pro-crypto administration is invigorating market confidence. Second, the ongoing economic environment, characterized by likely inflationary pressures, has driven institutional and retail investors toward alternative assets.
“The growing narrative of Bitcoin as digital gold is becoming impossible to ignore,” explains Nigel Green. “It’s increasingly viewed as a hedge against inflation and a tool for portfolio diversification. Institutional interest is at an all-time high, and the infrastructure to support mass adoption continues to expand.”
Several catalysts support Green’s revised forecast.
Trump’s policies are expected to include clearer regulations for digital assets, potentially drawing more institutional investors into the space. Additionally, the broader adoption of blockchain technology across industries reinforces Bitcoin’s status as a market leader.
In addition, the global macroeconomic backdrop remains favorable for Bitcoin. With central banks continuing to adopt accommodative monetary policies and geopolitical tensions unsettling traditional markets, the demand for decentralized, non-sovereign assets is likely to surge.
The deVere CEO’s new $120,000 target aligns with the broader sentiment among crypto bulls who see Bitcoin as entering a new phase of mainstream acceptance and valuation. However, he cautions that the journey to these heights will not be linear.
“Bitcoin’s rise is not without volatility. However, for long-term investors, the trajectory is unmistakable. The combination of limited supply, increasing demand, and supportive regulatory developments forms a compelling case for sustained growth.”
Green emphasizes the importance of professional advice for investors navigating the burgeoning crypto market.
“While the opportunities are immense, so are the risks. Partnering with a knowledgeable financial advisor ensures you can capitalize on the upside while managing exposure effectively.”
Bitcoin’s meteoric rise to $94,000 is a significant milestone, but, according to Nigel Green, the best is yet to come.
“As the crypto market matures and gains further legitimacy under a pro-crypto US administration, the path to $120,000-and beyond-seems increasingly probable.”
“The window to act before Bitcoin becomes even more entrenched in the global financial system is closing,” he concludes.
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