Nigel Green predicted that Bitcoin (BTC) and the cryptocurrency market experience exponential gains in the coming weeks. This is despite the bear conditions that have heavily hit the market in the recent months. However, will this forecast come true? Let’s find out.
Price analysis
According to the preliminary market analysis, the price bleed is consistent with not just top ten cryptocurrencies, but also the entire top twenty digital currencies. At the time of writing, Bitcoin (BTC) was falling by 3% with a total market cap of $110.120 billion. Bitcoin’s price has been on a consistent downfall for the past 12 hours in the range of 3%-4%.
Additionally, XRP, whose traders expected to shoot up after the commercial launch of xRapid, is yet to achieve expectations from the market with a bearish drop of 3%. The digital currency which was in a race to overtake Ethereum in terms of market cap still holds a disparity of 3% billion. Ethereum (RTH) was not spared by the bears either, sliding at a rate of 4% with a total market cap of $20.210 billion.
Bitcoin (BTC) and the cryptocurrency market will experience exponential gains
According to Nigel Green, the founder and CEO of UK-based financial consultancy firm deVere Group, Bitcoin and the cryptocurrency market will experience exponential growth and possibly reach the $20 trillion mark within the next decade. Nigel added that:
“There’s an ongoing shift away from fiat money, and the momentum of this is only set to increase over the next 10 years.”
This massive growth will be as a result of large institutional adoption into the cryptocurrency market. Currently, the perception of traditional financial institutions about cryptocurrency is changing. Going forward, we should expect to see an increasing inflow of funds from Wall Street.
Do you agree that the industry will experience exponential growth?
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