{"id":136095,"date":"2020-12-17T23:00:00","date_gmt":"2020-12-17T20:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/devere-ceo-says-bitcoin-will-rise-50-and-possibly-double-in-2021\/"},"modified":"2020-12-17T23:00:00","modified_gmt":"2020-12-17T20:00:00","slug":"devere-ceo-says-bitcoin-will-rise-50-and-possibly-double-in-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/devere-ceo-says-bitcoin-will-rise-50-and-possibly-double-in-2021\/","title":{"rendered":"# DeVere CEO says Bitcoin will rise 50% and \u2018possibly double\u2019 in 2021"},"content":{"rendered":"

“# DeVere CEO says Bitcoin will rise 50% and \u2018possibly double\u2019 in 2021 <\/strong>”
\n<\/p>\n

Bitcoin\u2019s (BTC) parabolic rally is only just getting started, according to Nigel Green, founder and CEO of the Dubai-based financial advisory firm deVere Group.<\/p>\n

In an article that was published to News<\/a>max on Thursday, Green boldly proclaimed that Bitcoin will have another \u201crecord-breaking year\u201d in 2021, with prices set to explode by at least 50% and \u201cpossibly double.\u201d <\/p>\n

He made the prediction just as Bitcoin peaked above $23,000 on Thursday for the first time ever. The flagship digital currency would go on to trade as high as $23,777 on Bitstamp before experiencing a minor pullback. <\/p>\n

Based on current values, Green expects BTC to reach between $34,500 and $46,000 at some point next year.\u00a0<\/p>\n

While acknowledging that Bitcoin won\u2019t go up in a straight line, Green says the influx of institutional investors will lead to a groundswell of consumer interest, creating the perfect storm for price discovery. <\/p>\n

He wrote<\/a>:<\/p>\n

\u201cSome of the world\u2019s biggest institutions \u2013 amongst them multinational payment companies and Wall Street giants \u2013 pile ever more into crypto, bringing with them their enormous expertise and capital, this in turn, swells consumer interest.\u201d<\/p><\/blockquote>\n

Green\u2019s deVere Group has spent quite a bit of time researching digital assets. Last month, the advisory firm released survey results showing that 73% of respondents are bullish towards cryptocurrencies, up from 68% in 2019. This so-called survey of millionaires underscores an important shift underway within smart-money circles. <\/p>\n

Institutional demand has been a primary catalyst behind Bitcoin\u2019s bull market and is one of the main reasons why the current uptrend differs markedly from the blow-off top in 2017. <\/p>\n

Another major catalyst is the narrative that Bitcoin is a hedge against inflation and macroeconomic uncertainty \u2014 something Green touched upon in his article. <\/p>\n

He explained:<\/p>\n

\u201c[…] with governments continuing to support economies and increase spending due to the pandemic, investors are increasingly going to look to Bitcoin as a hedge against the legitimate inflation concern.\u201d<\/p><\/blockquote>\n